Property
Suspended UK property funds show model portfolio limitations
The UK’s largest open-ended property funds gated flows or implemented exit charges to prevent a post-Brexit run on the asset class earlier this month, trapping £15bn ($19.8bn, €18bn) of investors’ cash and casting a cloud over the City. But many flexible investors were able to see the warning signs and evade the net, says David Coombs, Rathbones’ head of multi-asset investments.
Aberdeen lowers dilution adjustment on UK Property
Aberdeen has reduced the dilution adjustment on its UK Property Fund and its feeder unit on the back of slowing redemptions the firm said.
L&G ups UK property fund valuation by 5%
The price of Legal & General’s UK Property Fund rose by 4.3% after repricing the charge it imposed on people who wanted to withdraw cash from the fund.
AJ Bell relabels property funds in Sipps after suspensions
Self-invested personal pension (Sipp) provider AJ Bell has confirmed that it has reclassified the commercial property funds, suspended in last week’s market turmoil, as non-standard assets under the Financial Conduct Authority’s (FCA) upcoming capital adequacy rules.
Aberdeen lifts trading suspension on UK property fund
Aberdeen Asset Management has lifted the trading suspension on the Aberdeen UK Property Fund.