City Of London
BlackRock Halts Withdrawals From £3.5 Billion UK Property Fund
- UK Property fund is deferring requests made in September 2022
- Pension scheme clients have been rebalancing their portfolios
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BlackRock Inc. has suspended withdrawal requests from investors in its £3.5 billion ($4.2 billion) UK property fund, in a move that highlights the sector’s ongoing challenges when markets are volatile.
The world’s largest asset manager told clients in the BlackRock UK Property Fund in the past few days that it will defer redemption requests made at the end of September 2022 and due around now, according to a person familiar with the matter.