Open-ended UK property funds saw £336m of outflows in October, the third-worst month on record, as many reopened after prolonged suspensions, data from Calastone revealed.
Most funds in the Investment Association's UK Direct Property sector were forced to close as material uncertainty clauses were placed on all property asset classes due to the coronavirus pandemic. That clause has since been retracted, with some having re-opened already and others slated to follow later on in the year. Those that currently allow investors to pull their cash have seen some take-up, Calastone's Fund Flow Index showed. HMRC weighs ISA ban on 'new' property fund investments The £336m withdrawn in October was fully half the total for the whole of 2016, the last time the ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
