‘Stigma’ around some fund liquidity tools must end, say CROs

Fund managers are wary of using redemption gates and fees to manage outflows during crisis periods


Liquidity management tools are vital in times of market stress, but fund managers are not making full use of them because of stigma attached to measures such as redemption gates and fees, according to two risk chiefs. 

“For liquidity tools to be useful, they need to be accepted by the investment community. There’s still some stigma around gating of [regulated] funds,” said Nasreen Kasenally, chief risk officer (CRO) at UBS Asset Management. “And I think that this needs to change, because

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