Henderson Global Investors has moved the pricing of its £4.1bn UK Property OEIC from an offer to a bid basis.
The difference between the Henderson UK Property OEIC's share price on an offer basis (creation) and a bid basis (cancellation) currently amounts to around 5%.
The decision reflects the group's expectation the trend for client net fund flows will sit between "broadly stable" and "moderately net negative" for the forseeable future.
Since February 2015, the fund has increased in size from £2.6bn to £4.1bn but AUM has been stable from December onwards.
In a statement, the group said: "It is important to note that the pricing basis decision for a dual-priced UK commercial property fund is not related to the liquidity position of the fund.
"Rather, it aims to apply appropriate and fair pricing to ongoing investor flow to and from the fund to reflect the marginal transaction costs in underlying assets likely to be associated with the net investor flow. It is about being fair both to transacting clients and to clients who remain invested in the fund."
Dual-priced property funds must set the price of their shares using either a bid basis or an offer basis calculation.
Henderson said: "The pricing basis of the Henderson UK Property OEIC will remain under continuous review with the aim that it reflects the trend outlook for net fund flow and, in turn, the overall balance of transactions costs in the underlying asset class."
The fund, which is co-managed by Marcus Langlands Pearse and Ainslie McLennan, invests in a range of properties and its top ten properties consist of buildings located in London's West End, Cambridge and Windsor as at 31 March.
Over the last three years to 9 May, the fund has returned 24.8% against its IA Property sector which returned 19.9% during the same period, according to FE.