Open-ended property funds have been in the headlines for mostly all the wrong reasons for much of the past 12 months, as the sector has once again been held hostage by a large market sell-off, this time stemming from the Covid-19 outbreak.
Following a wave of redemptions, in March last year all UK physical property funds were forced to suspend dealing as independent valuers were hit by material uncertainty regarding valuations.
Ben Fry, investment manager of ReSI Capital Management and head of housing at Gresham House, believes property is not an asset class best held in an open-ended format, given its illiquid nature.
Gresham House plc (LON:GHE) is a London Stock Exchange quoted specialist alternative asset manager offering funds, direct investment and tailored investment solutions, including co-investment, in public equity, private assets, forestry, new energy and housing.
