One of Britain’s most high profile unit trusts, New Star’s £675m International Property fund, was yesterday forced to close its doors to withdrawals after it admitted it no longer had sufficient cash reserves to meet demands from investors. The fund was launched only 18 months ago, in a blitz of billboard advertising featuring skyscrapers around the globe. The fund promised a “world of new investment opportunities” but thousands of small investors who poured their savings into the fund will now be denied access to their money after its suspension yesterday. Continue reading…
Source : theguardian.com
Read more…New Star halts property fund withdrawals
