Trading in UK property funds managed by BlackRock and Schroders have been suspended, according to a report in the Financial Times, bringing the total amount gated in UK real estate funds since the Covid-19 outbreak to around £17 billion (€19.4 billion).
The decision to halt trading came after property firms said they could no longer accurately value UK real estate as a result of the pandemic.
The funds affected, the FT said, are BlackRock’s £3.4 billion UK Property and Schroder’s £2.4 billion UK Real Estate funds.
In addition, five institutional funds managed by Royal London and Legal & General have also been suspended because of uncertainty over net asset values.
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