Prudential is the latest provider to temporarily suspend its property funds.
The insurer today announced it had paused investments into and withdrawals from six of its pension and life property funds, which either invest solely in either the Aviva Investors Property Trust or the M&G Property Portfolio.
Prudential said its decision was a direct result of both Aviva and M&G temporarily suspending trading in shares of their funds.
The single-asset unit-linked property funds affected by the temporary suspension are the Pru Property Pension fund, Pru Property (Ex Scot Am) Life fund, Pru Property Life fund, Pru Property Life fund, Pru Aviva Property Trust Pension fund and Pru Aviva Property Trust Life fund.
A spokesman for Pru said property funds have been affected by the EU referendum result, which has caused “significant market uncertainty”.
He added: “Prudential will monitor the situation on an ongoing basis and further action will be considered when the suspensions in the underlying funds are lifted.”
The Financial Conduct Authority has been informed about the decision.
katherine.denham@ft.com
