Investments has suspended redemptions from its UK property fund, citing Brexit.
The company said redemptions from the M&G Property Portfolio, aimed at retail investors, had risen markedly because of 鈥渉igh levels of uncertainty in the UK commercial property market鈥� since the outcome of the European Union referendum.
from its UK property fund suspended trading in one of its vehicles.
The freezing of M&G鈥檚 拢4.4bn (鈧�5.2bn) fund, as well as the Aviva Investors Property Trust and SLI UK Real Estate Fund, follows several months of net outflows in the sector.
M&G said redemptions had now reached a point where it could best protect shareholders鈥� interests through a 28-day temporary trading suspension.
M&G鈥檚 fund holds 178 UK commercial properties across the retail, industrial and office sectors.
