In a letter to shareholders, the firm said it was “confident” it can continue to provide a solution that provides investors in the £1.3bn L&G UK Property Fund (PAIF) and the Legal & General UK Property Feeder fund access to the property sector.
Head of UK wholesale James Crossley said this could include a hybrid property fund option, offering access to both direct property and REITs, subject to regulatory guidance and approval of any proposed changes.
Open-ended property funds assert confidence following M&G closure as outflows mount
“As the FCA has previously communicated, any str…