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We no longer check to see whether Telegraph. To see our content at its best we recommend schrodera if you wish to continue using IE or using another browser such as Firefox, Safari or Google Chrome. Schroders, one of Britain's biggest property fund managers, has been forced to tell its mes premier patin a roulette that it is set to miss deadlines for the return of their cash because of the liquidity crisis in the underlying market.
William Hill, Schroders' head of property, said: We have done this as a precaution. It is not a disaster that willkam cannot get their money back straightaway. However, none of our clients have complained. They agree that if it is not possible to sell assets at anything other than fire sale prices, we should not sell assets.
In a further sign of the pressure on Schroders, the company last week revealed that it was to reduce the value of the units in the trust by The problems at Schroders are being mirrored across the property fund management industry.
Given the growing levels of redemptions, fund managers are faced with the prospect of becoming iwlliam sellers in a deeply unfavourable market or holding on to their assets at the expense of investors' requests for redemptions. Rupert Clarke, the head of property at Hermes, the fund manager, said: The context is that the market is very illiquid at the moment.
Anybody with just three months' notice is effectively a forced seller in an illiquid market. Although both Schroders and Hermes cater principally for institutional investors, the problem of increasing demands for cash from investors has also gripped funds catering for retail investors.
A market source said: Are they in trouble? Are they going to have to go cap in hand to the FSA saying they need to suspend trading? That is the main question. There are a lot of assets on the market. The question is whether they will get them hull. Most fund managers have tried to put assets on the william hill through private sales in order to sell them without alerting the wider market to the volume of disposals.
However, with fund-of-fund managers increasingly looking to switch their william hill schroders out of Britain and into continental Europe, pressure is growing to repay investors in both the institutional and retail sectors. Publishers wishing to reproduce photographs on this page should phone 44 0 or email syndication telegraph. The best way to transfer money overseas.
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Predictions saw a huge shift this week. We explain why - and what it means for mortgages and savings. Accessibility links Skip to article Skip to navigation. Monday 20 November Schroders tells property investors to wait. Schroders revealed that it was to reduce the value of the units in its flagship trust will cakewalk authorize online The biggest companies in the world in The Big Short hits UK cinemas: These are the most valuable start-ups in the world.
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The cheapest places to buy an Isa. Our colour-coded tables show at a glance which investment shop will be cheapest for you.William Hill (pictured) is to step down from his current role as head of property at Schroders. Schroders has today announced that Duncan Owen, Head of Property Investment, will succeed William Hill as Head of Property, with immediate effect. William Hill. Head of Property at Schroders. Location: London See who you know in common; Get introduced; Contact William directly. View William's Full.