Schroders fears commercial property collapse - papers 26 Nov

The company also warned that investors in the fund might have to wait longer than usual to withdraw their money because of a serious downturn in the market. William Hill, Schroders' head of property, said: "The market has moved and there is nothing to be gained by us putting our heads in the sand and pretending otherwise." The 12.5% reduction applies to the value of redemption units in the Schroder Exempt Property Unit Trust, one of the top performers in the sector. Institutional investors in the fund are required to give three months' notice of withdrawals but are usually offered the...