Real Estate

M&G suspends UK’s biggest commercial property fund, blames Brexit

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The UK’s biggest commercial property fund has been suspended after its adminstrators claimed “Brexit-related political uncertainty,” was causing investors to remove money at an unsustainable rate.

Investment firm M&G added in a statement Wednesday that changing trends in U.K. retail were also having a negative effect on property demand.

“In recent months, unusually high and sustained outflows from the M&G Property Portfolio have coincided with a period where continued Brexit-related political uncertainty and ongoing structural shifts in the UK retail sector have made it difficult for us to sell commercial property,” the statement read.

M&G said the fund, which managed assets valued at $2.5…



Source cnbc.com

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