Friday, Jul 20, 2007
Investors switch from UK to international property
Telegraph: New Star recovers from UK fund sell-off
"But earlier this month New Star, and fellow fund manager Norwich Union, reacted to rising redemptions by reducing the price at which units can be encashed - wiping nearly £300m off the value of two of Britain's biggest property funds in the process and sparking a wave of panic buying. Both companies insisted there was no reason to panic at the sudden reversal in the fortunes of their funds. Returns from UK property have been close to 20pc a year for 3 years. Neither fund manager would say how much money had flowed out of the funds." Landlords, lesson learned, head for the exit!
Posted by confused76 @ 05:21 PM (167 views) Add Comment
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