Closepip property fund dealings suspended

Close Investments has announced it is to suspend dealing on its Closepip property fund in order to safeguard its assets in the face of redemptions. The suspension began on 22 January and is anticipated to be in place for six months, although the length of the suspension may vary according to market conditions. Close Investments states that this decision has been made in the interests of the investors in the fund - an Isle of Man experienced investor fund - to ensure that the high level of redemption requests does not force property sales. Trading has also been suspended in Active Commer...