Columbia Threadneedle Suspends Dealings In U.K. Commercial-property Fund
Columbia Threadneedle Investments said Wednesday it's temporarily suspended dealing in its U.K. retail property fund, the fifth company to do so this week as requests for redemptions from commercial-property vehicles increase in the wake of the U.K.'s Brexit referendum. Columbia Threadneedle Investments, the global asset management group of Ameriprise Financial Inc. , said investors won't be able to buy or sell shares in its Threadneedle UK Property Authorised Investment Fund and its Threadneedle UK Property Authorised Trust. Requests from clients to sell their shares are expected to "continue for the time being due to uncertainty in the market following the UK Referendum result, therefore the temporary suspension of dealings allows sufficient time for the orderly sale of assets, and protects the interests of all investors," Columbia Threadneedle said in a statement.
Copyright © 2016 MarketWatch, Inc.