Standard Life suspends trading of property fund after Brexit

5th Jul 2016 09:12

(ShareCast News) - Standard Life Investments has suspended trading in its UK property fund after uncertainty surrounding markets in Britain after the country voted to leave the European Union last month.UK vote to leave EU led to volatile markets and international companies looking elsewhereThe suspension will last for at least 28 days and will remain in place until it is "practicable" to lift it, with the decision being reviewed at least every 28 days, according to the asset manager at Standard Life Investments UK.Several businesses have signalled their intentions to move jobs and offices elsewhere in Europe after Britons voted for a Brexit from the European Union, triggering widescale political and market uncertainty.Several businesses have signalled their intentions to move jobs and offices elsewhere in Europe"The outcome of the UK referendum has resulted in increased uncertainty in valuations for the UK commercial property market and we believe that valuations have been negatively impacted," an SLI spokesman said last week.