Three more funds revised their prices today to stave off redemptions.
Kames Capital made a second revision to the value of its Property Income and Property Income Feeder funds.
It decided to increase its fair value pricing adjustment to 10% in total, after its initial downgrade on 28 June by 5%.
Legal & General cut its £2.3bn property fund by 10% after a 5% cut after the referendum vote two weeks ago.
Meanwhile, BMO Global Asset Management wrote down 5% of its £305m property fund, citing “downward pressure on realizable property value”.
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Kames 10% adjustment to direct property values equates to 8.51% of the value of the fund as at 7 July.
It said: “We have made this change to the funds’ pricing in accordance with provisions in the funds’ prospectus, taking account of broader market indicators and other economic variables.
“The independent valuation reports we refer to have not had time, as yet, to reflect the transaction activity since the referendum vote was conducted.
“Our Fair Value Pricing Committee meets regularly to ensure the valuations of our property fund assets are as fair as possible and it is our opinion that this adjusted price is fair and reasonable.
“We continue to monitor market events closely.”
The revision follows Aberdeen revising its values by 17% earlier today.
