Investments has suspended redemptions from its UK property fund, citing Brexit.
The company said redemptions from the M&G Property Portfolio, aimed at retail investors, had risen markedly because of βhigh levels of uncertainty in the UK commercial property marketβ since the outcome of the European Union referendum.
from its UK property fund suspended trading in one of its vehicles.
The freezing of M&Gβs Β£4.4bn (β¬5.2bn) fund, as well as the Aviva Investors Property Trust and SLI UK Real Estate Fund, follows several months of net outflows in the sector.
M&G said redemptions had now reached a point where it could best protect shareholdersβ interests through a 28-day temporary trading suspension.
M&Gβs fund holds 178 UK commercial properties across the retail, industrial and office sectors.
