Last month, the M&G Property Portfolio and WS Canlife UK Property ACS were suspended ahead of closure, with both managers noting sustained outflows that were unlikely to be reversed.
M&G global head of product and distribution Neal Brooks added the firm “does not foresee a future” for the open-ended direct property structure, a view reinforced by PortfolioMetrix UK head of investments Nic Spicer.
Open-ended property funds assert confidence following M&G closure as outflows mount
“Today’s open-ended property funds do not have a future,” Spicer declared. “There is an inherent asset/l…
