Legal & General Investment Management’s hybrid approach to property investment has the potential to become a blueprint for open-ended funds investing in other illiquid assets, UK wholesale boss James Crossley has argued.
Many once mighty open-ended property funds, such as M&G's Property Portfolio, have closed in recent years after being forced to limit redemptions on several occasions, raising questions about the future of the sector and sparking greater regulatory scrutiny. On Wednesday (10 April), shareholders of L&G UK Property fund, or PAIF, are set to vote on proposed changes to shift from a direct property focus to a hybrid model that includes indirect property holdings through REITs. Some experts have said the move is likely to put a spotlight on the hybrid approach to property investment, wi...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
