The Financial Conduct Authority’s consultation into property funds' liquidity mismatch is at risk of becoming immaterial as more and more mandates transition into hybrid models.
The FCA consultation was triggered by the suspension of major direct property funds from Aviva, M&G and Standard Life in 2016 after they failed to quickly sell property assets to meet redemptions after the UK's vote to leave the EU, an event which triggered a broad based, mass exodus from UK-based assets. This was exacerbated by the massive levels of volatility created by the pandemic, which saw £5bn worth of UK property funds suspended at one point over valuation mismatches. Investment Week revealed today (26 June) that TIME Investments was recently forced to suspend its Social Impac...
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