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2016-07-05

The Guardian: "Property funds halt trading as Brexit fallout deepens"


"Surge in requests to redeem investments prompts freeze on funds as sterling tumbles to 31-year low and Bank of England says risks have crystallised"


"The fallout from the Brexit vote reverberated through the markets on Tuesday as two more City property funds barred investors from withdrawing their cash and the Bank of England warned that risks to the financial system had begun to 'crystallise'.

"City watchers warned that further property funds would be forced to bar withdrawals as investors race for the door amid fears of a plunge in the values of office blocks and shopping centres in post Brexit Britain.

"The suspensions came on another day of drama on the financial markets, 11 days after the vote to leave the EU wrong-footed investors and sparked political turmoil."

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