SWFI First Read, July 5, 2016
Standard Life Investments Suspends Trading in UK Property Fund
U.K. property funds are facing redemption risks, potentially creating a spiral downward on property portfolios. Effective immediately, Standard Life Investments (SLI) suspended trading on July 5th on its £2.9 billion U.K. Real Estate fund. The fund targets U.K. real estate in areas such as warehouses, offices and shopping centers. The last time Standard Life Investments prevented investors from pulling their money out of the fund was during the global financial crisis. Standard Life Investments cites “exceptional market circumstances” following a slew of redemption requests.
“The suspension was requested to protect the interests of all investors in the fund,” SLI said in a statement.
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