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Close Investments suspends property dealing

Close Investments has temporarily suspended dealing in its property investment portfolio.

The suspension will also apply to one of its sub-funds, Active Commercial Estates.

Close says the decision is to ensure that its high level of redemption requests does not force property sales.

The suspension was effected on January 22, until further notice. It is expected that it might last for six months, subject to changing market conditions.

Close says it will keep shareholders informed of all details relevant to the trading hault.

Close Investments Property chief investment officer Peter Roscrow says: “We continue to believe in the long term future performance of Closepip which has performed better than the vast majority of competitor open ended property funds over the last one, three, and six months, one and three years.”

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