BoE wants investors to wait longer for cash from illiquid funds

LONDON (Reuters) - Investors should have to wait longer for redemptions from funds with hard-to-sell assets like commercial property, or be prepared to take a hit on the cash they get back, the Bank of England said on Monday.The BoE and the Financial Conduct Authority (FCA) published conclusions from a review into mismatches at many funds that promise daily redemptions even though they hold assets that are hard to sell easily or without a price hit in the time it takes to sell them.BoE Governor..