"At the time, Link managed fund assets for over 100 investment managers. As acknowledged by Andrew Bailey shortly after the fund’s suspension, responsibility for liquidity rested with Link.
"Additionally, staff at WIM had it confirmed by Link that the FCA and the depositary knew the details of the liquidity framework that was being applied to the fund, including its parameters, throughout the period."
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Ima Jackson-Obot is deputy features editor at FT Adviser
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