Following the recent vote to leave the EU there has been a wave of property funds being suspended from multiple providers. Nearly £18 billion of assets have been frozen within the funds that have temporarily seized trading. The decisions to suspend property funds have been made by each provider to protect shareholder’s interests by avoiding having to make heavily discounted sales.
A balance is required between those wishing to exit property funds and those remaining as medium to long term investors. Please see previous commercial property blog.
For the majority of investors, the best option is to maintain the status quo. We have looked at each of our individual clients and how this issue affects them and have taken steps, where necessary, to ensure interests are protected.
We have been in contact with a range of providers to ask them about their fund suspensions, whether they are suspended within their field and how often the decision to keep them suspended is reviewed and considered.
We have provided a summary of the provider’s information in the table below.
* The Aberdeen Property fund is a fund of shares in property companies and is more liquid as it is not ‘bricks and mortar’.
**We have included the Royal London Property fund as it is used by some of our clients invested via Workplace Pension Schemes.
The property fund managers all have their own conditions and the above is just a quick precis of the current situation.
If you have any queries regarding your property fund or an investment, please contact us at People and Business on 0151 546 1969 or click here. (link)
We have provided a link to each provider’s website, to ensure you are able to stay in contact with any updates.
- M&G Investments
- Henderson Global Investors
- Standard Life
- Columbia Threadneedle
- Canada Life
- Royal London
- Aberdeen Assett Management