More property funds placed ‘on hold’
Standard & Poor’s (S&P) has placed the Macquarie Direct Property Fund and the BlackRock Combined Property Income Fund classes C and D ‘on hold’ after the funds announced that they had changed their withdrawal processes.
Macquarie has suspended applications and withdrawals on its fund while BlackRock has made withdrawals subject to a formal offer.
The managers of both funds said the decision to amend their withdrawal processes was made in the best interest of investors.
S&P said the funds would remain ‘on hold’ until investors were able to apply and withdraw on request.
Recommended for you
Franklin Templeton has announced it will close its Australian Core Plus Bond Fund, having changed two fixed income funds in its Brandywine range last week.
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
