M&G Investments has sold or placed under offer £718m of assets during the suspension of its property fund, which was valued at £4.4bn before its close in July.
M&G put 58 properties on sale during the suspension, which will end on 4 November.
The property portfolio and feeder fund had been closed to trading since 5 July, following a rise in redemption requests in the wake of the Brexit vote.
In order to “preserve the integrity and future of the fund”, the company said it sold its risky assets while keeping the high quality ones.
William Nott, chief executive of M&G Securities, said: “Suspending the fund was not a decision we took lightly, but we felt it was the only way to protect the interests of investors in what were very unusual circumstances in the aftermath of the referendum.”
Seven open-ended funds closed to trading in the weeks after the referendum.
Following the announcement, Aviva’s property trust will be the last to lift its suspension. Aviva said the fund could stay suspended until 2017.
Last week, AREF commissioned former PwC partner John Forbes to lead an independent review of open-ended funds.
Explainer: What’s going wrong with open-ended retail funds?
From October: AREF to report on post-Brexit fund redemption chaos
From September: Independent report to probe crisis
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