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Rules must change as funds leak cash

A net £30.8m was withdrawn from the Aberdeen UK Property fund last Friday, as the gating of M&G’s fund impacted on rivals.

The withdrawals followed a net outflow of £31.6m on Wednesday, but a calmer Thursday that saw just £480,000 pulled out of the fund.

The fund, run by Standard Life Aberdeen, is one of a number seen as vulnerable to redemptions after M&G suspended trading in its £2.5bn Property Portfolio Fund.

The Times (£) has called for a change in the rules that govern how funds operate.

The Times (£)

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