M&G “does not foresee a future” for the open-ended direct property structure.
So, Neal Brooks, global head of product and distribution at M&G, told me yesterday (19 October) afternoon as we were discussing the news that the M&G Property Portfolio was suspended ahead of its closure, pending regulatory approval. The news is not so at those few houses still offering investors access to a daily-dealing direct property vehicle, with LGIM, abrdn, Columbia Threadneedle and Royal London all confirming to Investment Week they had stable funds and no plans to close them - even if they have haemorrhaged assets since the great suspension of 2020. (The second great suspensi...
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