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