As Redemption “Panic” Accelerates, Two More UK Property Funds Slash Value Of Their Property Assets…”Here come dominoes #8 and #9.”
by Tyler Durden
ZeroHedge.com
Jul 7, 2016
Legal & General’s fund arm and F&C Investments both cut the value of their UK property funds on Thursday, as the industry seeks to stem a tide of redemption requests since Britain’s vote to leave the European Union. More than 18 billion pounds of investor cash has been frozen in the last week as funds run by M&G Investments, Standard Life Investments and Threadneedle Investments, among others, suspended trading.
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