More than £10bn of investors' money became locked in open-ended UK property funds from 17-18 March and remains so at time of writing (19 March), as the coronavirus pandemic caused independent property valuers to declare a "material uncertainty of valuations".
To date, nine property funds and their feeder funds have suspended trading; fund houses include Aberdeen Standard Investments, Aviva Investors, BMO Global Asset Management (GAM), Janus Henderson, Kames Capital, Legal & General Investment Management, and Columbia Threadneedle Investments. Update: SJP latest to suspend property funds Each of the suspensions has been attributed to independent property valuers, including CBRE and Knight Frank, adding a 'market uncertainty clause' to all valuation reports due to the unprecedented circumstances caused by the coronavirus pandemic. That cl...
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