Close suspends dealing in property fund

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 said that the decision had 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 Commercial Estates, in which Closepip is a majority shareholder. Peter Roscrow, chief investment officer, Close Investments Property, commented: “We continue t...