6th Jul 2016 15:00
LONDON (Alliance News) - Henderson Group PLC on Wednesday became the fourth investment manager in London to suspend trading in its commercial property fund, underlining the turmoil in the commercial property sector following the Brexit vote.
Henderson Global Investors said it would suspend trading in the Henderson UK Property PAIF fund and the Henderson UK Property PAIF Feeder fund "to safeguard the interests of investors".
Henderson said despite the underlying portfolio of the fund remaining strong, the decision to suspend trading was taken due to "exceptional liquidity pressures on the funds", due to the uncertainty caused by the outcome of the EU referendum and the recent suspension of trading in other property funds.
Henderson is the fourth fund manager to make such a move in recent days, following on from Standard Life Investments, Aviva Investors and M&G Investments, owned by Prudential PLC.
The Henderson fund had GBP3.9 billion in assets in its portfolio at the end of May.
Shares in Henderson were down 1.5% to 196.90 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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