M&G Extends Suspension In Latest Open-Ended Fund Saga

Law360, London (January 29, 2020, 3:57 PM GMT) -- Investment manager M&G PLC has said its £2.4 billion ($3.1 billion) property fund will stay suspended after it shut investors out in December when it was struggling to meet a wave of redemption requests, as regulators get tougher on open-ended funds.

M&G said Tuesday that it will continue to keep investors locked out of its M&G Property Portfolio to protect their interests, even though it has raised £70.4 million since it suspended the fund on Dec. 4. Investors had made high levels of withdrawals from the property fund during 2019 amid uncertainty about Brexit, the fund manager said.

M&G said the suspension...

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