LONDON (Reuters) - St James's Place (L:SJP) has moved to bid pricing on its 2.7 billion pound UK property fund, following a string of other British property funds which have cut valuations or suspended trading.
The firm made the change to its SJP Property fund on Wednesday, a spokeswoman for the company said in emailed comments on Friday. Bid pricing gives investors looking to redeem their money a less favourable price.
Retail investors have been rushing to redeem high-yielding but risky property investments after Britain voted last month to leave the European Union.