Kames Capital has cut the fair value adjustment of its property income fund to 6.5% from 8.5%.
The investment managers said that although market sentiment has improved since the EU referendum, there is still “insufficient evidence” for property valuers to make accurate judgments.
The 6.5% adjustment represents 1.94% of the value of the fund.
Kames first implemented a 5% pricing adjustment on its £409m fund at the end of June before raising it to 10% on 7 July. It was cut to 8.5% on 16 August.
Although the property fund did not close to redemptions following the vote in June, Kames waived its large deal provision in July in an effort to entice new investors.
From July 2016: Kames waivers LDP fee on property funds
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