Wednesday, July 6, 2016

Brexit: stress wins UK property – The World

Silhouetted workers  walk in front of office towers in the Canary Wharf  financial district in London February 16, 2011.  New Bank of England forecasts opened the door on  Wednesday for interest rates to rise slowly in  Britain aim Governor Mervyn King Warned contre  jumping to conclusions about When the central bank  Would pull the trigger REUTERS / Luke MacGregor.  (BRITAIN - Tags: BUSINESS EMPLOYMENT) - RTR2IOGT

Besides the pound lowered, the initial shock of Brexit seemed limited on UK financial markets, even a FTSE 100 – the index of major stocks listed in London – up since the victory of the “Leave”. The first signs of stress, however, have begun to emerge in Britain. And, as often they appear on the property market

Tuesday, July 5, two British tenors of asset management, Aviva Investors and Mr. & amp. G announced they were suspending redemptions of units in their funds dedicated to British commercial real estate because of a “lack of immediate liquidity,” Aviva justified. The day before, the Scottish Standard Life Investments had already taken the same provisions “in exceptional circumstances” . Together, these three real estate investment envelopes totaling 9 billion pounds (10.5 billion euros) in assets under management, that of M. & amp; G being the largest market.

“This decision was made following an increase in redemption requests related to uncertainties in the commercial property market in the UK after the result the referendum on the European Union “ Standard Life explained. Very rare

Analysts measures of the City, others should follow. “The dominoes are beginning to fall in the commercial property market in the UK, is concerned Laith Khalaf, an analyst at Hargreaves Lansdown. It’s only a matter of time before others follow. “

The sector …


No comments:

Post a Comment