St. James's Place has lifted the suspension on its range of three UK commercial property funds, following its independent valuer CBRE's decision to lift the Material Uncertainty Clause (MUC) it applied in March in response to the impact of the coronavirus pandemic.
It follows the Royal Institution of Chartered Surveyors (RICS) recommending this morning (9 September) a "general lifting" of material valuation uncertainty over the valuation of "all UK real estate", with exception of "some assets valued with reference to trading potential". In response, CBRE, which is a member of RICS' Material Valuation Uncertainty Leaders Forum, lifted the MUC which had been in place since 18 March. "The removal of this clause means that they are now able to value, with confidence, the properties held within the St. James's Place UK Commercial Property funds due t...
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