Today's Wall Street Journal is reporting that U.K. Property Funds are making it difficult for investors to exit. Commercial real-estate values are falling, and understandably investors in many open-ended property funds are desperate to cash out.
Unfortunately, funds managers can't come up with the cash to meet redemption requests. Funds are enforcing waiting periods because sales have slowed.
It all sounds very healthly. Anyone for another interest rate cut?
Unfortunately, funds managers can't come up with the cash to meet redemption requests. Funds are enforcing waiting periods because sales have slowed.
It all sounds very healthly. Anyone for another interest rate cut?
1 comment:
Friends Provident just closed the doors on selling units in their $1 billion property fund for six months. I hope by the time they reopen them that investors can get oh, about 5p in the £1.
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