July 7, 2016 / 3:30 PM / 3 years ago

Kames makes further pricing cut in UK property funds

LONDON, July 7 (Reuters) - Investment manager Kames has made a further 5 percent cut in the pricing of its 409 million pound ($529.37 million) UK property funds, it said on Thursday, bringing the total cut in pricing to 10 percent since Britain voted last month to leave the European Union.

The additional pricing cut to the Kames Property Income and Kames Property Income Feeder funds was due to the “continued market volatility” since the vote, Kames, which is owned by Dutch insurer Aegon said in a statement.

Seven UK property funds with assets under management totalling more than 18 billion pounds have suspended trading this week, while three other funds said on Thursday they had cut pricing.

$1 = 0.7726 pounds Reporting by Carolyn Cohn; Editing by Rachel Armstrong

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