Investors pull £336m from property funds in October - Calastone

Third-worst month on record

David Brenchley
clock • 2 min read

Open-ended UK property funds saw £336m of outflows in October, the third-worst month on record, as many reopened after prolonged suspensions, data from Calastone revealed.

Most funds in the Investment Association's UK Direct Property sector were forced to close as material uncertainty clauses were placed on all property asset classes due to the coronavirus pandemic. That clause has since been retracted, with some having re-opened already and others slated to follow later on in the year. Those that currently allow investors to pull their cash have seen some take-up, Calastone's Fund Flow Index showed. The £336m withdrawn in October was fully half the total for the whole of 2016, the last time the funds were forced to gate in the aftermath of the Brexit v...

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