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M&G announces temporary suspension of dealing in M&G Property Portfolio

M&G publishes on its website:

“M&G Investments (M&G) is temporarily suspending dealing in the shares of the M&G Property Portfolio (the Fund) and its feeder fund with immediate effect.

In recent months, unusually high and sustained outflows from the M&G Property Portfolio have coincided with a period where continued Brexit-related political uncertainty and ongoing structural shifts in the UK retail sector have made it difficult for us to sell commercial property. Given these circumstances, we have now reached a point where M&G believes it will best protect the interests of the Funds’ customers by applying a temporary suspension in dealing.

The Funds will continue to be actively managed in suspension, but in recognition of customers’ temporary inability to access their investment, M&G is waiving 30% of its annual charge, which will end when the Funds resume dealing. Suspension will be regularly reviewed, we will keep investors informed via the M&G website and notify of any changes to the level of fee waiver.

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