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M&G suspends £164M fund, following flagship fund suspension

M&G's life and pensions division suspended a £164 million property fund that is fully invested in the company's flagship U.K. property fund which was itself suspended on Dec. 4, Reuters reported.

The fund in question is the Prudential M&G Property Portfolio Fund, the newswire said, citing a company spokesman.

The suspension comes after M&G Investments suspended dealing in the shares of its £2.54 billion M&G Property Portfolio, citing Brexit-related uncertainty and changes in Britain's retail sector.

Non-property funds PruFund Growth, PruFund Cautious and the Risk Managed PruFund remain unaffected by the latest suspension as they do not invest in M&G Property, according to the spokesman. There will also be no disturbance regarding withdrawals linked to retirement benefits.