BlackRock extends block on UK property fund redemptions
The fund manager, BlackRock has further delayed the redemptions on it UK property fund standing at £3.5bn as it is concerned about the difficult market conditions. It is a way of rebalancing its portfolio and freeing up cash for investors in the firm. Other fund managers, have all restricted withdrawals from UK property funds in the recent months. Due to rising interest rates, many benefit schemes have improved their funding positions and therefore are looking to offload properties, as they are high risk assets. The BlackRock fund has been running since 1982, their performance was considerably worse than rivals in the year to the end of December.
Where is the weight of the the property market going, does it look positive for 2023?