
Run risk on funds not a systemic issue, say market participants
FSB and Iosco are consulting on drive to make open-ended funds adopt anti-dilution tools

Potential liquidity mismatches in open-ended funds are a matter of investor protection rather than systemic risk, market participants are arguing, as regulators launch a fresh attempt to tackle the perceived problem.
“Dilution is an investor protection issue, it’s not a financial stability threat,” said Michael Pedroni, head of global affairs for the international arm of US lobby group Investment Company Institute (ICI Global).
Agathi Pafili, head of European government relations for $2.6
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