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Fundraising - APRIL 3, 2020

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Citing pricing uncertainty, BlackRock and Schroders suspend trading in U.K. funds

by Kali Persall

BlackRock and Schroders have joined a host of major investors that have suspended trading in their real estate funds due to current market conditions.

According to Reuters the investment managers halted trading for their U.K. real estate funds aimed at institutional investors, citing pricing uncertainty.

The New York Times reports BlackRock suspended its £3.4 billion ($4.2 billion) U.K. property fund on March 20 and Schroders suspended its £2.4 billion ($2.9 billion) fund on March 18.

“COVID-19 creates an unprecedented challenge for governments, economies, companies, investors and individuals,” Schroders wrote in an April 2 letter to companies in the United Kingdom. “Our experience of historical crises and understanding of the complexities of the current situation indicate that a difficult business backdrop is likely to persist for some time.”

 The firms add to a swath of investment managers that are freezing

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