The £2.5bn Standard Life Investments UK Real Estate PAIF was one of the first to be suspended in the aftermath of the Brexit vote.
It was forced to suspend trading on 4 July and was quickly followed by a raft of other open-ended property funds. However, the fund is due to re-open on Monday, 17 October. Here, George Shaw, manager of the fund since 2007, explains why the suspension was necessary, what changes he has made to improve liquidity, and his outlook for property in a post-Brexit world. How have you changed the portfolio since the suspension? We had 7% cash at the point of suspension and that is significantly higher now, although it is a moving picture as we complete transactions. There are still as...
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