Scots finance giant suspends fund in Brexit wake

Picture: TSPL

Picture: TSPL

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Standard Life Investments has suspended trading in its UK property fund after a flurry of investors rushed to withdraw their money following the Brexit vote.

In a statement yesterday evening, Standard Life Investments said: “The suspension was requested to protect the interests of all investors in the fund.”

Experts said Standard Life Investments could be the first in a wave of funds to do the same in the wake of the referendum.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said: “Property funds are clearly under pressure as a result of the Brexit vote, and we could now see a new wave of investors being unable to liquidate their property funds quickly, which we last witnessed during the financial crisis.”

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