M&G Property Portfolio to reopen for dealing

M&G Investments has plans to reopen the M&G Property Portfolio and its feeder fund, the M&G Feeder of Property Portfolio, for dealing as of midday on May 10, 2021. The decision to lift the suspension has been taken by the fund’s Authorized Corporate Director (ACD) and its Depositary, who are now satisfied the fund has a suitable liquidity position for customers who wish to sell their investment and for those who wish to remain invested. The Financial Conduct Authority has also been notified.

A total of 38 carefully selected properties have been exchanged or sold by the fund’s manager, Justin Upton, resulting in reduced portfolio risk, strengthening the fund’s income stream and decreasing the vacancy rate to 7.2 percent. All assets sold or exchanged during suspension were at a combined –0.1 percent discount to their net asset value, of which 38.8 percent were disposals of retail properties. Cash now stands at 33.2 percent (as of April 19,