St James’s Place has become the latest manager to gate its commercial property funds, due to uncertainty about how to value the underlying assets amid the Covid-19 coronavirus pandemic.
The dealing suspension affects approximately £3.5 billion in investor money, across three open-ended real estate funds, the St James’s Place Property Unit Trust (£1 billion), the Property Life fund (£1.3 billion) and the Property Pension fund (£1.2 billion).
Other managers including Kames Capital, Janus Henderson, Aviva, Columbia Threadneedle, Standard Life Investments, and Legal & General have implemented similar suspensions...
