St. James's Place reopens property fund as ASI eyes 30 September end to suspension

Follows RICS latest recommendations on MUCs

clock • 3 min read

St. James's Place has lifted the suspension on its range of three UK commercial property funds, following its independent valuer CBRE's decision to lift the Material Uncertainty Clause (MUC) it applied in March in response to the impact of the coronavirus pandemic.

It follows the Royal Institution of Chartered Surveyors (RICS) recommending this morning (9 September) a "general lifting" of material valuation uncertainty over the valuation of "all UK real estate", with exception of "some assets valued with reference to trading potential". In response, CBRE, which is a member of RICS' Material Valuation Uncertainty Leaders Forum, lifted the MUC which had been in place since 18 March. "The removal of this clause means that they are now able to value, with confidence, the properties held within the St. James's Place UK Commercial Property funds due t...

To continue reading this article...

Join Investment Week for free

  • 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

Join now

 

Already an Investment Week
member?

Login

Trustpilot