Question to the HM Treasury:
To ask Her Majesty's Government what steps (1) they, or (2) the Financial Conduct Authority, have taken to ensure that the pricing of funds managed by H20 Asset Management is based on fair valuation of portfolio investments.
This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the noble Lord by letter. A copy of the letter will be placed in the Library of the House.