July 8, 2016 / 9:45 AM / 3 years ago

St James's Place moves to bid pricing on UK property fund

LONDON, July 8 (Reuters) - St James’s Place has moved to bid pricing on its 2.7 billion pound ($3.50 billion) UK property fund, following a string of other British property funds which have cut valuations or suspended trading.

The firm made the change to its SJP Property fund on Wednesday, a spokeswoman for the company said in emailed comments on Friday. Bid pricing gives investors looking to redeem their money a less favourable price.

Retail investors have been rushing to redeem high-yielding but risky property investments after Britain voted last month to leave the European Union. ($1 = 0.7724 pounds) (Reporting by Carolyn Cohn; Editing by Rachel Armstrong)

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