Some 50% of independent financial advisors believe the move towards suspending withdrawals from property funds is a ‘sensible measure to safeguard the interests of investors,’ according to REIT information provider Reita.
Some 50% of independent financial advisors believe the move towards suspending withdrawals from property funds is a ‘sensible measure to safeguard the interests of investors,’ according to REIT information provider Reita.
Last month, Axa became the latest investment fund to postpone withdrawals from its property funds for six months. Friends Provident, M&G, Close Investments, Aegon Scottish Equitable and Scottish Widows have all made similar moves.
Funds have been hit by mass withdrawals by investors in recent weeks because of falling commercial property prices and an equally gloomy outlook.
Nevertheless, despite the market volatility, 53% of IFAs polled said they were recommending clients keep their investment levels constant and 6% were recommending an increased exposure to property.
Reita said 212 UK-based financial advisors took part in its survey.
