The recent high-profile closures of UK open-ended property funds have failed to spark investment platform provider interest to adopt the Financial Conduct Authority’s Long Term Asset fund (LTAF).
In the last seven days, M&G and Canada Life Asset Management have suspended and set out plans to close their respective UK open-ended direct property vehicles due to a surge in investor redemptions and dwindling demand. These two are the latest in a string of open-ended property fund closures in recent years, including Aviva UK Property and Aegon Property Income, which are still being wound-up more than two years on. M&G suspends open-ended UK property fund ahead of closure The FCA opened a consultation in 2020 into the future of open-ended property funds in a bid to reduce the p...
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