No One Really Knows What Open-Ended Funds Will Do


Questions raised as a succession of U.K. property funds halt redemptions.

It’s summer, political uncertainty is in the air, asset prices are plummeting, and concerns about the ability of open-ended funds to withstand a wave of redemptions are rising. Only it’s also the summer of 1962, John F. Kennedy is the U.S. president, and the S&P 500 is seesawing between 69.55 and 54.75.

With much attention focused squarely on the seven U.K. property funds that have now pulled up the gates in the face of post-Brexit referendum redemptions, it’s worth revisiting an analogous moment in financial market history when the behavior of open-ended funds was similarly thrust into an unflattering spotlight…

No One Really Knows What Open-Ended Funds Will Do

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