Barclays Global Investors Funds (BGIF) is to close its property fund, Barclays Property by the end o...
Barclays Global Investors Funds (BGIF) is to close its property fund, Barclays Property by the end of September. By closing the £16m fund, the group is going against market consensus that now is the time to buy commercial property. John Kelly, investment director at BGIF, said: "Our view is that it is now the time to sell. The rally in property prices provides an opportunity to exit a sector that has been disappointing and will be disappointing in the future. The intention is to switch investors into Barclays General fund in the UK All Companies sector. If they prefer, investors can have...
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