Things seem to be stabilising in the property market after the post-Brexit ‘hoo-ha’ which saw funds suspended after liquidity issues caused by institutional investor redemption requests.
Legal & General, one of the few institutions not to suspend transactions on it’s property fund, has lifted it’s ‘fair value price adjustment’ (effectively an exit charge) which had fluctuated between 5-15% citing improved confidence in the market. Columbia Threadneedle, Aberdeen and Canada Life have all announced recently the removal of the suspension that applied to their funds.
We await the decision of other high profile fund management groups which may be waiting for liquidity to improve further before showing their hands.