Investors flee Standard Life Aberdeen property fund following M&G gating

Outflows topped £31m

In the wake of the M&G property fund suspension, investors have withdrawn tens of millions of pounds from the Aberdeen UK Property fund, sparking fears of a repeat of the 2016 crisis.

Daily outflows from the £1.3bn Aberdeen UK Property fund reached £31m on Wednesday, the day M&G announced the suspension of the M&G Property Portfolio. This nearly equals the outflows for the past four months combined, according to estimates from Morningstar and reported by the Financial Times. The large withdrawals will continue to worry investors, despite reassurances from the industry that it is not seeing a repeat of the 2016 crisis, where many property funds suspended trading in the wake of the Brexit vote. FCA asks platforms for number of clients affected after M&G suspension...