UK wealth managers have significantly reduced their exposure to UK property as an asset class, according to the latest FE fundinfo Adviser Fund Index (AFI).
The index, which is rebalanced twice a year, shows that six adviser groups have removed IA UK Direct Property funds from their portfolios for investors across all risk profiles. Ten funds in the sector were removed overall - the highest number from just one sector - with Threadneedle's UK Property Authorised Investment, L&G's Property Feeder and M&G's Property Portfolio funds among those to be discarded. The research attributes this to the high-profile suspensions of the M&G and Prudential UK Property funds in 2019, which remain suspended. Oliver Clarke-Williams, portfolio manager ...
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