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.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
