Three more UK Property Funds Freezes Selling
Three more UK fund managers restricted investors from abandoning their UK property funds, entrapping additional 5.5 billion British pounds and now with six total property funds halting withdrawal requests post-Brexit. More than half of the 25 billion pounds of investment poured by retail investors towards commercial property are now detained by their fund managers, which are collapsing under pressure to sell off infrastructures to obtain cash. Henderson Global Investors, Columbia Threadneedle and Canada Life suspended redemptions on Wednesday amid 'panic' withdrawals. The succeeding announcements of fund 'gatings' that started on Monday have rattled the bigger markets and has raised concerns from the Bank of England that warned on Tuesday that the series of events could magnify any slump in the commercial real estate industry.
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