First M&G Property distribution due in February with wind-up predicted to last 18 months

Writing to investors, M&G confirmed the regulatory proceedings related to the termination of the fund have been completed, with the wind-up set to commence on 29 December 2023. The fund is being closed due to the dwindling popularity of property vehicles, according to M&G, which noted the ongoing withdrawals are "likely to continue" and may "accelerate in the future". M&G suspends open-ended UK property fund ahead of closure As the £557m fund shrinks further, "it becomes necessary to sell some of its larger properties and buy smaller ones", which will incur "high transaction costs"...