H2O Asset Management

Treasury written question – answered on 7th October 2020.

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Photo of Lord Myners Lord Myners Non-affiliated

To ask Her Majesty's Government whether they, or the Financial Conduct Authority, have reviewed (1) the accuracy, and (2) the regulatory completeness, of the statements issued by H2O Asset Management on 16 September and 22 September in connection to illiquid investments held in open-ended funds; and whether they (1) have investigated, or (2) plan to investigate, whether the transactions disclosed with related parties were in the best interests of all fund investors

Photo of Lord Agnew of Oulton Lord Agnew of Oulton Minister of State (HM Treasury), Minister of State (Cabinet Office)

This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the noble Lord by letter. A copy of the letter will be placed in the Library of the House.

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