By Carolyn Cohn
LONDON, Sept 30 (Reuters) – BlackRock BLK.N said on Wednesday it had lifted the suspension of its 3.1 billion pound ($4 billion) British property fund, one of several to resume dealings after a six-month freeze due to uncertainty about valuations.
Much of Britain’s 70-billion-pound ($90 billion) property fund sector was frozen in March as a result of the COVID-19 pandemic, but surveyors lifted an uncertainty warning earlier this month.
Dealing in the BlackRock fund, which was suspended on March 20, will start again on Oct. 30, the U.S. asset manager said in a statement emailed to Reuters, as the fund’s assets were no longer subject to “material uncertainty”.
“The fund has sufficient liquidity to meet the current level of redemption requests,” the statement said.
Legal & General LGEN.L, Royal London ROLGPI.UL, St James’s Place SJP.L and Columbia Threadneedle have also lifted the suspension of