The information in this site is intended for Discretionary Wealth Managers only.

The information contained in these pages must not be used or relied upon by private investors. We recommend that you read our 'Terms & Conditions' before browsing the site.

Please click the appropriate button to the right to confirm that you are a Discretionary Wealth Manager and wish to continue. 

This site uses cookies

The cookies settings on this website are set to ‘allow cookies’ to give you the best experience of our website. If you would like to find out more about cookies or change your settings, please refer to our Privacy & Cookies policy.

By clicking to accept you are a Discretionary Wealth Manager and proceeding beyond this page, you are agreeing to our use of cookies.


Continuation of temporary suspension of M&G Property Portfolio

25 August 2016

London - M&G Investments (M&G) has decided to continue the temporary suspension of trading in the M&G Property Portfolio and its feeder fund until further notice. The decision has been taken with the agreement of the Fund's Depositary and the Financial Conduct Authority has been informed.

The suspension is enabling the orderly sale of assets at reasonable values, balancing the need to protect the interests of all the Fund’s shareholders with reopening the fund as soon as practically possible.

As at 23 August the Fund’s cash position had risen to 6.7%, with assets under management of £3.96bn. Assets have been exchanged and sold from all sectors across a range of asset sizes.

M&G believes a more normal commercial property market combined with a fund cash holding target of 12.5% - plus additional cash for working capital and likely client redemptions - will provide a suitable environment to lift the suspension.

The M&G Property Portfolio is valued twice a month and independent valuer Knight Frank continues to report a degree of uncertainty around property asset values.

In consultation with Knight Frank, M&G continues to apply a fair value adjustment (FVA) to the Fund of £150 million.

The FVA and suspension of the Fund are reviewed regularly by M&G and the Depositary. We will notify Fund shareholders in advance of any lifting of the suspension.

Cyveillance Protected

The value of investments will fluctuate, which will cause fund prices to fall as well as rise and you may not get back the original amount you invested.
For Investment Professionals only. Not for onward distribution to any other type of client. No other persons should rely on the information contained on this website. Content should therefore be shared responsibly with other investment professionals.