December 4, 2019 / 2:38 PM / 2 months ago

M&G Investments suspends property portfolio fund as Brexit takes toll

Dec 4 (Reuters) - Savings business M&G Plc’s investments unit said on Wednesday it was temporarily suspending dealing in the shares of its UK property portfolio and feeder funds, blaming Brexit uncertainty.

In recent months, unusually high and sustained outflows from the M&G Property Portfolio have coincided with a period of continued Brexit-related political uncertainty, M&G Investments said.

The investments unit also said ongoing structural shifts in Britain’s retail sector had made it difficult for it to sell commercial property. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)

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