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
Platinum Asset Management has put its two closed-end funds under strategic review in a bid to reduce the share price discount to pre-tax NTA and maximise shareholder value.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.