Second Property Fund Suspends Trades Over Brexit Fears
- Aviva stops trading in 1.8 billion-pound fund on liquidity
- Hargreaves says more funds could follow after EU referendum
Taking Stock of Hedge Funds Under Pressure
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Aviva Investors suspended trading in a 1.8 billion-pound ($2.4 billion) real estate investment fund, after Standard Life Investments froze its fund Monday, as investors demanded their money back in the wake of Britain’s vote to leave the European Union.
The money manager halted the Aviva Investors Property Trust following a “lack of immediate liquidity,” according to a statement Tuesday. “We have acted to safeguard the interests of all our investors by suspending dealing in the fund with immediate effect.”