Wednesday, July 11, 2007

UK property funds slash unit values

Panic selling hits property funds

Commercial property trusts, Norwich Union Property Unit Trust and New Star Property Unit Fund slash values. From yesterday Norwich Union's investments worth 4.72% less and New Star's 3.9% less. Large numbers of investors want to bail out but the funds cannot immediately sell the properties and do not have enough liquid assets. Withdrawal penalties introduced to stop investors jumping ship.

Posted by koala bear @ 04:29 PM (563 views)
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2 thoughts on “UK property funds slash unit values

  • These investors sound like the BTLers… “in for the long term”… yes, in the s… for the long run!

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  • Prepare for some of the property investment fund managers to be wheeled out in the media saying “no-one panic! it’ll all be alright!”, and for investors to ignore it and shout “RUUUUUUUUUUUNNNNNNN!”

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