Skandia and Resolution property funds back to offer price

Skandia and Resolution's property funds have now moved back to an offer price after July outflows fo...

Skandia and Resolution’s property funds have now moved back to an offer price after July outflows forced several vehicles to the lower bid basis. Investment Week reported in July that several funds had moved to bid pricing after significant redemptions over the month. Funds from Norwich Union, New Star, Prudential, Standard Life, Resolution, and Skandia were all repriced on this basis. Skandia said its Property fund had swung from offer to bid pricing on seven separate occasions in five weeks in a bid to protect existing investors. Fund manager Ryan Hughes said: “The last time the fun...