Wednesday March 18 2020
News Source: Fund Regulation
Focus: General - Fund Regulation
The FCA announced that certain Standing Independent Valuers have determined that there is currently material uncertainty over the value of commercial real estate (CRE).
In such situations, a fair and reasonable valuation of CRE funds cannot be established. As a result, some managers of open-ended CRE funds have temporarily suspended dealing in units of these funds and others are likely to follow for the same reason.
Suspensions can be used by managers of open-ended funds, in line with their obligations under applicable regulations. In these circumstances, suspension is likely to be in the best interests of fund investors.
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