The Financial Conduct Authority (FCA) is to examine the way property funds applied pricing discounts during the volatile period that resulted from the UK's vote to leave the EU.
According to the Financial Times, chief executive Andrew Bailey (pictured), has identified a need to investigate the way property funds were priced during the post-Brexit period, though he agreed the suspensions were "sensible". Last month, the regulator revealed plans to publish a discussion paper on open-ended property funds in early 2017. Several of the UK's largest property funds, with a total of £15bn in assets under management, were forced to suspend following Brexit due to the high volume of redemptions. These included funds offered by Aviva Investors, M&G and Aberdeen Asset Ma...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
