Major US fund management firms are backing a proposal that would allow retirement savers to allocate portions of their 401(k) plans into alternative assets such as private credit and cryptocurrencies, according to a report by Reuters.
Investor groups and advisers though, are warning that the move could expose individuals to higher risk, fees and liquidity constraints.
The proposal, introduced by the US Department of Labor, would create a “safe harbour” framework intended to protect employers fro...
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