BOE’s Carney Says Some Funds With Illiquid Assets Built on a Lie
Mark Carney
Photographer: Cole Burston/Bloomberg
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Funds that contain illiquid assets but allow unlimited withdrawals have been “built on a lie,” according to Governor Mark Carney.
The BOE Governor made the comments to parliament’s Treasury Committee in London on Wednesday, after his colleague Jon Cunliffe was asked what lessons policy makers could draw from the problems faced by embattled money manager Neil Woodford.