The M&G Property Portfolio has been suspended following “unusually high and sustained outflows”, with the fund’s AUM declining by roughly £1bn since the start of the year.
Total AUM has fallen by 27.9% since the start of the year, falling from £3.5bn to £2.5bn over the period, according to FE Fundinfo. Performance has also suffered over the course of 2019, with the fund down 7.8% over one year to 4 December, compared to an average loss of 0.1% for the IA UK Direct Property sector. The fund was one of a number of vehicles in the sector that suspended in the wake of the 2016 Brexit referendum, which saw investors rush to pull money from the illiquid asset class. It was estimated at the time that well over half the £25bn IA property sector was frozen. Fu...
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