BoA Fund Outflows Surge After Brexit

BoA Fund Outflows Surge After Brexit

News has hit the wires today that the UK’s three largest property funds have halted redemptions as concerns grow about the impact a sudden rush of withdrawals from the UK’s fund management industry will have on the British real estate market.

Three “Liquid” UK Real Estate Funds Freeze Redemptions In Wake of Brexit

The funds, which hold more than £9 billion of investors assets, are thought to have halted redemptions following a surge of redemption requests from discretionary asset managers, who have rushed to move client assets into more stable and liquid investments. The UK’s largest commercial property fund, M&G’s £4.4 billion Property Portfolio, a £2.9 billion Standard Life fund and a £1.8...