The BMO Property Growth & Income fund has reopened, having closed amid a wave of other open-ended property vehicles in March as a result of valuation concerns stemming from the ongoing pandemic-driven market sell-off.
BMO GAM was among SJP, Columbia Threadneedle, LGIM, ASI, Kames Capital and Janus Henderson in firms forced to suspend their property funds in March as their independent valuers declared they were unable to accurately or fairly value the properties in their portfolios. PA's sister title Investment Week understands that BMO GAM's independent valuers are attempting to lift their "uncertainty" clauses on a sector-by-sector basis, with under pressure sectors like retail likely to be the last. BMO Property Growth & Income comprises both direct property and property securities, sitting withi...
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