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Henderson to re-open UK Property fund after ‘firesale’

commercial property investment

The post-Brexit crisis in open-ended property funds continues to ease with Henderson Global Investors the latest investment group planning to reopen its main UK property fund.

Trading in the £3.4 billion Henderson UK Property fund and its feeder fund was suspended two months ago in response to a surge in withdrawal requests from worried investors after the EU referendum result.

The group has now said the funds will open for dealing next month. It will begin processing orders tomorrow, ahead of a full re-opening on 14 October.

The announcement follows a number of disposals by the fund in order to generate the money it needs to pay departing investors. This includes its former flagship property, 440 The Strand in London, home to private bank Coutts, which went under offer last week, having been put up for sale after the Brexit vote on 23 June.

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Paul

The author Paul