Fourth company suspends UK property funds on Brexit

Investment group Henderson Global Investors today became the fourth company to suspend trading in UK commercial property funds on a wave of redemptions triggered by the Brexit vote.
"Despite a strong underlying portfolio, the decision was taken due to exceptional liquidity pressures on the funds, as a result of uncertainty following the EU Referendum and the recent suspension of other direct property funds," Henderson said in a statement.
Britain last month voted in a referendum to exit the European Union, unleashing a financial shock that has sent the pound and property firms' share prices tumbling.
Today's statement added that Henderson Global Investors had temporarily suspended trading in two UK property funds "to safeguard the interests of all investors".

The move comes after M&G Investments, Aviva Investors and Standard Life Investments had all suspended funds since the start of the week following a surge in redemption requests against a backdrop of a tumbling share prices for property builders.
The suspended funds, including those run by Henderson, manage assets totaling 13 billion pounds (USD 16.8 billion).
Analysts have said moves by investors to pull money out could put downward pressure on commercial property prices.