Embattled property group Brandeaux to wind up suspended funds

Troubled property firm Brandeaux is to wind up six of its long-suspended property funds following calls from investors wanting to exit the vehicles.

The three-strong Ground Rent fund range will be wound up as soon as possible, and in doing so this will cause the three Dual Assets funds - which invest in both the Ground Rent and Student Accommodation funds - to also close. The group said in an announcement £173m of liquidity has been released through property sales so far for investors in the Ground Rent funds, representing some 37% of the total assets. Brandeaux said it is seeking to wind up the funds once all properties have been sold. "Given the desire that has been expressed by investors in the Ground Rent funds to realise l...