Cash levels held by property fund giants varied from 8%-22% just before the EU referendum at the end of May, but even those with higher liquidity buffers have been unable to avoid the fall-out from the Brexit vote which has seen a raft of suspensions across the sector.
Following the last big test for property funds during the financial crisis, regulators suggested cash buffers were increased to around 10%-15%, up from pre-crisis levels in the 5%-10% range. This recommendation...
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