Two property funds have become the first to “gate” as a result of the wild market swings caused by the coronavirus epidemic.


Kames Capital, which manages £37bn of assets, suspended trading of its £500m Property Income fund, after CBRE struggled to put a value on properties. More than 19% of the Kames fund is invested in the already struggling retail sector.

Janus Henderson, the US and Australia-listed fund group, followed Kames’s move by suspending its £2bn UK property fund on Tuesday evening.