UK Funds Reopen Following Mass Brexit Withdrawals
It's been a long freeze, but some UK real estate funds are showing signs of thawing.
Columbia Threadneedle Investments said Monday its UK property fund would be back in business later this month, the Wall Street Journal reports. The firm was one of many that shut down trading in July when investors rushed to take their cash out after the Brexit vote.
While several funds have since reopened, such as Canada Life’s UK real estate fund and Aberdeen Asset Management, some of the biggest UK property funds remain closed and have frozen withdrawals, including funds at Standard Life Investments, Aviva Investors and M&G Investments. [WSJ]