Henderson Global Suspends Trading in $5 Billion U.K. Property Fund
06 Juli 2016 - 6:00PM
Dow Jones News
Henderson Global Investors has become the fourth fund manager
this week to stop investors in a U.K property fund from pulling
their money out, after the U.K. voted to leave the European
Union.
The fund manager said Wednesday that it had temporarily
suspended all trading in its £ 3.9 billion ($5.1 billion) Henderson
UK Property PAIF and its feeder fund "due to exceptional liquidity
pressures."
The decision comes after Standard Life Investments, Aviva
Investors and M&G Investments suspended trading on U.K.
property funds earlier this week, after a sharp rise in redemptions
that followed the EU referendum on June 23.
Henderson said its move was aimed to safeguard the interests of
all investors and came as "a result of uncertainty following the EU
referendum and the recent suspension of other direct property
funds," the firm said.
(END) Dow Jones Newswires
July 06, 2016 11:45 ET (15:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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