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04

Brexit Withdrawals Prompt Halt of $3.9 Billion Property Fund

By Tony Seruga

Standard Life suspends trading in U.K. real estate fund
Hargreaves says more funds could follow after EU referendum

Standard Life Investments suspended trading in its 2.9 billion-pound ($3.9 billion) U.K. Real Estate fund on Monday, the strongest signal yet that the turmoil from the Brexit vote will probably hit the property market.

The fund, which invests in a mix of prime commercial real estate assets, was halted at midday and the decision will be reviewed every 28 days, the Edinburgh, Scotland-based fund manager said in a statement. Standard Life adjusted the value of the underlying assets by 5 percent last week…

Brexit Withdrawals Prompt Halt of $3.9 Billion Property Fund

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