Fund manager New Star has cut the value of its flagship UK property fund by 8.2%, taking the total reduction since July to 17.8%. The move, which reflects falling confidence in the UK real estate sector, follows the revelation last week that several open-ended funds have imposed redemption limits on investors as property values continue to fall.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
