Today M&G investments have notified investors that the firm has suspended dealing in the M&G Property Portfolio fund (& Feeder), until further notice.
The investment firm have cited continued Brexit-related uncertainty and ongoing structural shifts in the UK retail sector, which have prompted unusually high outflows from the property fund for retail investors. Due to these market conditions it has impacted the ability to sell commercial property held within the fund. The suspension was agreed upon by the fund’s authorised director, M&G Securities, in conjunction with the fund’s depository and M&G also informed the Financial Conduct Authority. The suspension will be reviewed on a monthly basis.
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