Firm closes £2.9bn commercial fund citing ‘exceptional market circumstances’ in reportedly first such UK closure since the financial crisisInvestors in Standard Life’s property funds have been told that they cannot withdraw their money, after the firm acted to stop a rush of withdrawals following the UK’s decision to leave the EU.The firm halted trading on its Standard Life Investments UK Real Estate Fund and associated funds at midday on Monday, citing “exceptional market circumstances” for the decision. It said the suspension would remain in place until it is “practicable” to lift it, and that it would review the decision at least every 28 days. Continue reading…
Source : theguardian.com
Read more…Standard Life shuts property fund amid rush of Brexit withdrawals















