The joining process
What is the process for admission?
Applicants to the Specialist Fund Segment will be required to produce a prospectus approved by the FCA. Applicants must then seek admission of securities to the Specialist Fund Segment through the process outlined in London Stock Exchange’s Admission and Disclosure Standards.
What are the initial and annual costs of admission?
Admission and annual fees for securities admitted to the Specialist Fund Segment are calculated in accordance with our equity fee scale. Calculate your admission and annual fees using our fee calculator which can be found here.
Key attributes of the Specialist Fund Segment include:
Acceptance of sophisticated legal structures
The Specialist Fund Segment can accept a variety of sophisticated legal structures providing the flexibility for structures that can comply with home country tax or securities laws whilst also allowing access to permanent capital via admission to an international market.
Flexibility of an Regulated market
As an Regulated market, securities will normally be acceptable to institutional mandates. Additionally, the Specialist Fund Segment is a Regulated market for the purposes of the UCITS Directive.
Some institutional investors seeking to satisfy their mandates may require issuers to apply additional elements of governance and regulation. Where this is the case, applicants and their advisers are able to provide additional tailored disclosures in their prospectuses.
The Specialist Fund Segment is open to UK and non-UK domiciled investment funds wishing to use London as a centre from which to access permanent global capital.
Efficient secondary market
Liquidity in Specialist Fund Segment securities will be facilitated by our world class trading platform. Specialist Fund Segment securities will be traded on dedicated segments of either the SETS or SETSqx services depending on their anticipated trading pattern and size.