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July 10, 2010
Investors Scared Of Investing In Commercial Property Funds
Investors fear they may be left locked into commercial property funds should the market take a turn for the worse. This is what happened in late 2008 and 2009 when investors in New Star, Standard Life, Axa, Aviva and Scottish Widows all found themselves barred from drawing money out of the funds.
Investors were tied in for at least six months in some cases as managers feared a mass exodus of cash. It came as office values plunged during the credit crisis, with mounting anxiety about the ability of properties’ tenants to pay the rent, or even remain in business.