Update: M&G switches back to bid pricing on £4.7bn Property Portfolio

Managed by Fiona Rowley

M&G has switched the pricing on its £4.7bn Property Portfolio for a third time in the last three weeks, moving back to bid basis as it warns on future volatility of flows.

The firm switched the pricing of its fund, run by Fiona Rowley (pictured), to an offer basis on Friday, just two weeks after it moved to a bid basis last month, which resulted in a 6.4% downward price swing for the vehicle. This change reflected waning investor interest in property funds. However, the group has switched the pricing on the vehicle to bid basis once again, and has warned that volatility of flows could continue to affect the pricing basis of the fund in the future. M&G said in a statement: "As previously warned, due to volatility of flows, M&G Investments has changed the...