'UK property's levelling, go global' - Chartwell

Investment director Craig Wetton says investors should expect UK funds to fallback to historical norms. It follows Standard Life’s announcement it has cut the unit prices of five of its property funds by 6.7%, as a result of cash flow problems. “A lot of UK funds were flushed with cash and they had no alternative other than to take on properties they probably wouldn’t have otherwise,” Wetton says. “When they don’t deliver upon expectations, too much cash is taken out and we see examples like Standard Life and Prudential.” Wetton says the retail market has been slower in picking up t...