M&G has suspended dealings in the UK’s biggest property investment fund following high levels of redemptions in recent months from investors.

“We suspended dealing in the M&G Property Portfolio and the M&G Feeder of Property Portfolio from the valuation point at midday on 4 December 2019,” Laurence Mumford, the funds’ authorised corporate director told investors in a letter.

“In recent months, continued Brexit-related uncertainty and ongoing shifts in the UK retail sector have prompted unusually high outflows from our property fund for retail investors. Given that these circumstances and deteriorat...