6 U.K. property funds are frozen: What you need to know
MarketWatch - Jul 05, 2016
Three more U.K. property funds froze trading Wednesday, bringing the total to six and adding to Brexit-inspired anxiety in global financial markets.
Canada Life, Columbia Threadneedle and Henderson Global Investors on Wednesday announced they had halted redemptions in their U.K. commercial property funds. This comes after M&G Investments on Tuesday joined Aviva AV and Standard Life SL., +2.27% in announcing a temporary suspension of trading in shares of its open-ended property fund. The moves come as worries mount over the outlook for U.K. commercial property prices following the country’s vote to leave the European Union, or Brexit.
More broadly, the moves are feeding anxiety about the long-term ramifications of the Brexit vote and possible ways that financial stress could be transmitted to the U.K. economy and beyond.
