M&G Property Portfolio unlikely to open in 2020 despite 'glimmer of hope' for investors

Valuer Knight Frank further lifts material uncertainty clause

Investors were given “a glimmer of hope”, despite the continued suspension of the M&G Property Portfolio, as independent property valuers have removed material uncertainty clauses from two further sectors in the market.

In an update to investors, M&G said 28% of its portfolio has now had clause removed after its valuer Knight Frank - along with other RICS-approved companies - said it would no longer apply to central London offices and professionally managed, institutional grade student accommodation. These two areas of the market account for 5.4% of the M&G portfolio and add to the 23% in the UK industrial and logistics sectors that saw their clauses removed in June. FCA to consult on future of open-ended property funds Laura Suter, personal finance analyst at AJ Bell, said the update gave trapped...