Aviva Investors throws in the towel and closes frozen UK property fund portfolio-adviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from portfolio-adviser.com Daily Mail and Mail on Sunday newspapers.
City watchdog dodges decision on property funds after industry pressure
Property funds worth a combined £13bn blocked withdrawals last year
7 May 2021 • 1:00pm
The City regulator has delayed reforms to property funds which could require investors to give up to 180 days notice of withdrawals after pressure from fund managers.
Lobbying from fund groups, which claimed the changes would trigger heavy withdrawals from investors, has led the Financial Conduct Authority to postpone its decision until the Autumn at the earliest.
The regulator first proposed the new rules last summer, after property funds holding a combined £13bn blocked their investors from withdrawing cash in March as the pandemic struck.
M&G to reopen Property Portfolio by the end of Q2 portfolio-adviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from portfolio-adviser.com Daily Mail and Mail on Sunday newspapers.
Janus Henderson pledges to keep 15% cash weighting as it reopens property fund
UK Property Paif set to commence trading on 24 February but is cash target high enough?
Janus Henderson is reopening its UK Property Paif and feeder fund next month almost one year since it was forced to suspend dealing following the outbreak of the Covid pandemic.
In a statement on Wednesday, the firm said the fund would end the suspension at midday on 24 February.
Dealing in the fund was suspended on 16 March after its independent valuer CBRE advised on ‘material uncertainty’ around the value of UK properties because of Covid. It was frozen around the same time as a raft of other open-ended property funds, which all shuttered for similar reasons.
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