Industry divided on future of property funds following M&G closure

Ryan Hughes, head of investment partnerships at AJ Bell, and Ben Yearsley, director at Fairview Investing, said M&G's suspension and closure of the property fund, which follows the fate of several others, is likely a death knell for the sector. M&G suspends open-ended UK property fund ahead of closure Hughes, however, explained the "fatal blow" came when the FCA started looking at the suitability of daily dealings for illiquid funds. "From that point forwards, the funds essentially became uninvestable because the regulatory risk of serious change became much greater," he argued. "T...