Property News · July 7, 2016

Property fund turmoil continues as two more reveal cut in value


Legal & General slashes value of £2.3bn fund by 10% while Foreign & Colonial revises its £290m down by 5%Turmoil in the property sector is continuing, with two more funds announcing revaluations that show a sharp fall in the price of shopping centres, office blocks and warehouses since the EU referendum.With the pound remaining under pressure on the foreign exchange markets, Legal & General and Foreign & Colonial became the latest fund managers to take action on Thursday to reflect falling prices for property following the 23 June vote. Continue reading…

Source : theguardian.com
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