Growing Unease as British Mutual Funds Block the Exit Doors
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The financial district of Canary Wharf in London. British fund companies are ready to take drastic steps to prevent investors from leaving their funds. CreditMarco Kesseler for The New York Times
As one British mutual fund after another bars its doors to fleeing investors, traders and regulators alike are asking the same question: What does it mean for nervous global markets?
This week, six asset management firms in Britain decided to refuse, for the moment, cash demands from those seeking to escape funds that invest in commercial real estate in the country. The rush for the exits followed the unexpected decision by British voters to leave the European Union.
So far, the numbers are small enough. Of the 35 billion pounds, or $45 billion, invested in these funds, just under £20 billion has been affected…
Growing Unease as British Mutual Funds Block the Exit Doors
