Property fund redemptions hold steady as another £186m heads out the door
M&G Property Portfolio takes biggest bruising though redemptions are down substantially from May’s £806m
Alternatives
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Aegon to shut Property Income fund
‘I fear that this will just be the most recent victim of an issue that will affect many others in the future’
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HSBC Asset Management creates £38bn alternatives business unit
Firm is rolling its existing alternatives businesses into a single entity
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Blackrock partners with global platform to distribute private assets to wealth managers
Tie-up to simplify ‘operational and administrative complexities faced by wealth managers’
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Private equity trusts languishing on double-digit discounts despite rebound in risk appetite
Investors’ attraction to private assets has grown thanks to the likes of Scottish Mortgage
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Investors yank £800m from M&G Property Portfolio within first month of reopening
May’s outflows were ‘pretty horrific but not unexpected’
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Aviva Investors throws in the towel and closes frozen UK property fund
‘Increasingly challenging to generate positive returns while also providing the necessary liquidity to re-open’
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Has the alternative income story run its course?
Scarcity of yield has caused a lot of capital to chase relatively few assets and left valuations stretched
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Investors sceptical FCA LTAF proposal is the panacea for property fund liquidity mismatch
‘It is the investing behaviours that need to change more so than the investment structure’
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Liquidity concerns drag on real asset inflation hedge hopes
A number of pension fund managers have complained the illiquidity premium no longer exists
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Commercial property is not dead but it is at an inflection point
The asset class has become like a bad relationship – too good to leave, but too bad to stay
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Fidelity teams up with Berlin-based platform to offer private assets to clients
Likely to be rolled out to UK clients in the summer
