St James's Place suspends property fund and temporarily reduces fees

0.15% reduction to management charge

James Baxter-Derrington
clock • 1 min read

St James’s Place has suspended its £924m Property unit trust and deferred redemptions in its Property life and Property pension funds.

SJP has also implemented a 0.15 percentage point reduction on the fund, bringing the ongoing charges to 1.89%, according to the fund's key investor information document. Industry divided on future of property funds following M&G closure The suspension has been described as a "proactive measure" to protect the interests of clients, preventing the fund from selling assets "under pressure" at a reduced rate. A trio of reasons was given for the suspension and deferral, including a general fall in demand for UK commercial property. The firm also cited increased client redemptions, al...

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