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.
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