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St James's Place to wind down £1.8bn property funds amid 'challenging period' for property sector
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investmentweek.co.ukSJP's Property Unit Trust and Pension and Life funds will all be closed following an increasingly challenging environment for property investment driven by significant change in working patters during and after the Covid-19 pandemic. The wealth manager's decision follows a year of contemplation about the future of its three property trusts, it noted. On 20 October 2023, SJP suspended all transactions to its Property Unit Trust and reduced the annual management charge by 15 basis points, while withdrawals and switch-outs from the Property Life and Pension funds were deferred. Over...
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