M&G to reopen property fund after 17-month suspension

Over the course of the suspension, the managers have exchanged or sold 38 properties for a combined discount to net asset value of 0.1%, of which more than a third were retail properties. Suspended property funds collect £40m in management fees over 2020 This has brought the cash level to 33.2%, which the authorised corporate director and depositary of the fund believe is a "suitable liquidity position" to meet redemption requests and protect investors who wish to remain invested. Due to the rebalancing caused by an attempt to raise liquidity, the fund is now overweight to industri...