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)