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Frozen £2.5bn property fund could be 'first domino to fall'

UBS (UBS) thinks withdrawals from other UK property funds could be suspended in the wake of M&G Investments’ (MNG.L) decision to gate a £2.5bn fund.

M&G said on Wednesday it was suspending withdrawals from its Property Portfolio fund after “unusually high and sustained outflows.” The money manager blamed Brexit uncertainty and the decline of the retail sector in the UK.

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