Brexit Impact: UK Real Estate Sector Hit Further By Freeze In Fund Trading
July 7, 2016
The malaise in the United Kingdom’s real estate sector is spreading following the country’s shock vote to leave the European Union, with two more property trading funds — Aviva Investors and M&G Investments — announcing temporary suspension of trading Tuesday. The move, along with a similar announcement from Standard Life Investments on Monday, takes the total of frozen U.K. property funds to over 9 billion pounds (about $12 billion) this week alone.