Kames has cut the fair-value pricing adjustment of its £409m Property Income and Property Income Feeder funds from 10% to 8.5%.
The investment managers said they cut the adjustment because property values fell less than expected and sentiment has improved since the EU referendum.
The 8.5% adjustment to property values represents 6.2% of the value of the funds as of 16 August.
Kames put in a 5% adjustment following the EU referendum and raised it to 10% on 7 July, citing market volatility and uncertainty about the long-term impact of Brexit.
Unlike some open-ended property funds, including ones run by Aviva and M&G, these funds did not close to redemptions in the weeks following the referendum.
Earlier in August, Kames launched a £250m fund to take advantage of prospective sales in other open-ended funds, targeting “good quality secondary” commercial assets they believe to be undervalued.
They said there is still not enough evidence to value property accurately.
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