Close latest to suspend property fund trading

Dealing in the Property Investment Portfolio plc (Closepip) has been suspended, as has trading in one of its sub-funds, Active Commercial Estates (ACE), of which Closepip is a majority shareholder. The suspension is expected to last for six months, though this is subject to change, depending on market conditions. Close Investments said that the decision had been made in order to protect the interests of investors in the fund and to ensure that the high level of redemption requests did not force the disposal of assets. It added that Closepip continued to benefit from its wide diversifica...