The UK insurer and asset manager is freezing the M&G Property Portfolio and feeder fund on Brexit uncertainty and weakness in the retail sector
London — British insurer and asset manager M&G will continue the suspension of its £2.5bn property funds, it said on Thursday, after selling £70.4m of real estate assets to raise cash.
The suspension follows the collapse of money manager Neil Woodford’s equity fund and comes as regulators seek changes to funds that invest in hard-to-sell assets such as property but enable investors to cash out at short notice.
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