Seven big-name investment groups have so far suspended trading in their property funds following the UK's vote to leave the EU, but how have advisers reacted and to what extent are client portfolios being adjusted as a result?
Earlier today, Aberdeen and Canada Life joined Aviva Investors, Columbia Threadneedle, Henderson, M&G and Standard Life Investments in suspending trading on their property funds, amid a post-Brexit rush to exit the asset class. The moves, which have been praised by the Investment Association, are a reaction to swathes of investors asking for their money back following speculation about a possible drop in commercial property prices. Some £18bn in assets now stand frozen as a result, with many of the funds likely to be owned in client portfolios. Four financial advisers tell Professiona...
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