Columbia Threadneedle follows Henderson Global Investors, M&G Investments and Standard Life Investments who all decided to make the last week switch with one £multi-billion open-ended property fund each.
The fund’s co-manager and Columbia Threadneedle’s managing director of property, Don Jordison, said the switch was implemented to “ensure the fair treatment of all our investors whether they are transacting now or investing for the longer-term.”
He added: “We have not been immune to the trend of retail outflows from the sector and this decision was made with the aim of preventing any investors being disadvantaged by the negative impact of transaction costs.”
Many analysts and wealth managers have attributed the property fund sector’s increased redemptions and outflows to unresolved tensions ahead of the EU referendum.
