Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Article 2 Sufficient length of the life of the LTIF

For the purpose of Article 18(3) of Regulation (EU) 2015/760, the life of an LTIF shall be considered sufficient in length to cover the life-cycle of each of the individual assets of the LTIF where the following conditions are met:

  1. (a)

    the LTIF aligns the date for the end of its life to the date of the end of the investment horizon of the individual asset within the LTIF portfolio which has the longest investment horizon at the time of the submission of the application for authorisation as an LTIF to the competent authority of the LTIF;

  2. (b)

    any investment made by the LTIF after the date of its authorisation as an LTIF does not have a residual investment horizon exceeding the remaining life of the LTIF at the time that investment is made.