Fund Management

Prudential Suspends Six Property Funds

Amisha Mehta Deputy Editor London 11 July 2016

Prudential Suspends Six Property Funds

More UK property funds have been put on ice following investor requests to sell amid Brexit uncertainties.

Prudential, the London-listed financial services firm, has temporarily suspended trading in the Prudential Property Pension, Property (Ex Scot Am) Life, Property Life, Property Life, Aviva Property Trust Pension and Aviva Property Trust Life funds.

The fund range invests in the recently suspended Aviva Investors Property Trust and the M&G Property Portfolio and its feeder fund. Prudential is the parent company of M&G.

Prudential's multi-asset offering, which includes its PruFund range of funds, are not affected by the suspensions, it said.

“Following the EU referendum result there has been significant market uncertainty. Prudential will monitor the situation on an ongoing basis and further action will be considered when the suspensions in the underlying funds are lifted,” the firm said in a statement.

Prudential has informed the UK's Financial Conduct Authority of the decision.

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