Yet another property fund placed ‘on hold’
Standard and Poor’s (S&P) has placed Tankstream Property Investments ‘on hold’ after Tankstream suspended all applications and redemptions until further notice.
The move follows the Macquarie Direct Property Fund and BlackRock Combined Income Property Fund being placed on hold by S&P after they changed their withdrawal processes.
According to Tankstream, the suspension will maintain liquidity in the fund considering recent withdrawal requests in the property sector.
Fund analyst Robert Buckmaster said S&P would be in a better position to determine the impact on ratings of the fund once applications and withdrawals resumed.
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