M&G raises £137m as Property Portfolio remains gated

The funds were first suspended on 4 December 2019, following "unusually high and sustained outflows", which the firm attributed to "Brexit-related political uncertainty and ongoing structural shifts in the UK retail sector". The decision to extend the suspension has been made by the authorised corporate director (ACD), M&G Securities, "in the interests of protecting the fund's investors". Since the end of November, the fund has raised £137m to increase the cash position of the fund, with £70.4m already exchanged or completed, while £67.2m remains under offer "or in solicitors' hands",...