Investment Companies Daily: FCA consultation on AIFM rule changes, GSF final results, NESE formal sale process, BPCR new loan investment, SEQI June NAV

Research evidence excerpt

Investment Companies Daily: FCA consultation on AIFM rule changes, GSF final results, NESE formal sale process, BPCR new loan investment, SEQI June NAV

C A Z E N O V E Europe Equity Research

15 July 2026

Investment Companies Daily

FCA consultation on AIFM rule changes, GSF final

results, NESF formal sale process, BPCR new loan

investment, SEQI June NAV

• FCA consults on changes to AIFM rules – Proposals include increasing the European Investment Companies

AC company size threshold at which AIFM rules apply: The Financial Conduct Christopher Brown

Authority (FCA) yesterday published a consultation paper, CP26/28 (here), (44-20) 7134-4722

which includes a proposal to increase the assets under management (AUM) christopher.brown@jpmorgan.com

threshold at which a firm is considered to be a small Alternative Investment Adam Kelly, CFA

Fund Manager (AIFM) from £100m to £750m. There is also a proposal for (44-20) 7742-9526

provisions for what are classed as medium-sized AIFMs with AUM of £750m adam.kelly@jpmorgan.com

J.P. Morgan Securities plc

to £5bn, with the aim of preventing a cliff-edge effect that exists in the current

regime when passing an AUM threshold and immediately having a set of rules Investment companies Research

apply. The AIC has published its view on the consultation (here) welcoming the homepage -click here

proposals and saying they reduce regulation with much of the AIFM rulebook

duplicating the legal and governance standards that already apply to closed-

ended investment companies. There is a separate chapter on closed-ended Largest movers over the last week (%)

investment funds, including a summary of a UK Treasury proposed statutory Gabelli Merger Plus+ Trust -15.1

carve-out for small internally managed investment companies.