3rd Firm Suspends Trading in UK Fund

     (AP) – Asset manager M&G Investments has temporarily suspended trading in the shares of a property fund amid increasing uncertainty in the economy following Britain’s decision to leave the European Union.
     M&G joined Aviva Investors and Standard Life in halting trading in their respective U.K. commercial property funds following a rapid increase in investors trying to liquidate their holdings.
     The company said in a statement that “investor redemptions in the fund have risen markedly because of the high levels of uncertainty.”
     The companies stopped trading to protect other investors who wished to remain in their respective funds.
     The Bank of England has cited the commercial real estate market as one of the risks to the British economy. It says the sector has taken in capital from overseas and had become “stretched.”

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