18 March 2020 - Dealing in Janus Henderson UK Property PAIF and Kames Property Income fund has been temporary suspended.
Unlike previous suspensions, this is not due to redemptions or liquidity issues, but because the independent valuer for both funds, CBRE, has said that it is not able to value properties at the moment, due to the ongoing uncertainties surrounding the impact of the Coronavirus, and oil price wars.
The decision to suspend the funds is consistent with the new rules issued by the Financial Conduct Authority, and is in the interests of existing investors.
What happens now?
It is not yet known when the funds will reopen. The initial suspension is for a period of 28 days, but this could change.
It is quite possible that other property funds will also temporarily suspend dealing in the coming days due to the same issue.