Reopened M&G Property investors withdraw more cash than raised during suspension

£800m redeemed in 21 days

James Baxter-Derrington
clock • 1 min read

Investors in the M&G Property Portfolio have withdrawn more cash from the fund in 21 days than the management team raised during its 17-month suspension.

According to Morningstar estimates, investors have pulled £788m from the fund since the suspension was lifted on 10 May. Investors split on notice periods for open-ended property but no FCA decision until Q3 2021 The Property Portfolio had reached a cash level of 33.2% by the time the authorised corporate director and depositary of the fund decided the fund had reached a "suitable liquidity position". This translates to a £706m cash weighting in the fund, leaving an £82m shortfall to be made up to satisfy investor redemptions. A 12% weighting (£253m) was exchanged or under offer...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week