HGG Hend Group Cdi 1:1

By Razak Musah Baba

LONDON--The Financial Conduct Authority said Friday it has issued guidance after the decision by a number of funds to announce the temporary suspension of trading in their property portfolios and feeder funds.

The FCA said the guidance reminds fund managers of their obligations to investors and outlines the FCA's expectations in relation to the suspension of dealings in their funds.

After Britain's vote to leave the European Union, fund managers such as Henderson Global Investors and Columbia Threadneedle have suspended activities, stopping investors in U.K. property funds from pulling their money out, following the example of Standard Life Investments, Aviva Investors and M&G Investments.

The FCA said Friday that it has been in close contact with these funds for some time. The decisions to suspend have been taken by the fund managers in accordance with their internal governance arrangements.

The FCA will continue to liaise with the funds as they keep the situation under review, it said.

Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

July 08, 2016 11:13 ET (15:13 GMT)

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