Company News 

Seven Days: 6 December 2019

Seven Days: 6 December 2019

M&G gates fund

M&G has suspended trading in its £2.5bn M&G Property Portfolio (GB00B89X8P64) “with immediate effect”. The fund manager said it had seen “unusually high and sustained outflows” from the funds in recent months due to Brexit uncertainty and “ongoing structural shifts in the UK retail sector”. The suspension will allow managers time to raise cash to pay for redemptions, and the fund is waiving 30 per cent of its annual charge while it is suspended. A number of property funds temporarily closed – known as 'gating' – in 2016 in the wake of the EU referendum.

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