Increase in LTAF launches offering diverse unlisted assets through major asset managers and pure play firms.

From Morningstar: 2025-03-25 10:04:00

In 2025, new long-term asset fund (LTAF) launches increase the number of investment offerings with this fund structure. The FCA registry now lists 23 approved LTAF sub-funds, a number expected to rise. Major asset managers like Aegon, Aviva, BlackRock, Fidelity, Legal & General, and Willis Towers Watson are active in this space, focusing on pension and wealth markets.

Schroders Capital leads LTAF launches with six approved funds, including the Climate+ LTAF. Partners Group is the only pure play private markets firm to launch an LTAF. These funds allow investments across various unlisted asset classes, with multi-asset strategies being the most common approach. The LTAF landscape is expected to evolve, with potential for more UK unlisted asset-focused offerings.

LTAFs offer a wide range of unlisted asset class investments. Different approaches and geographic exposures cater to various investor preferences. The Mansion House Compact of 2023 may lead to more LTAFs focusing on UK unlisted assets. Morningstar does not own shares in any mentioned securities.



Read more at Morningstar: Private Market Investing: More Long-Term Asset…