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Standard Life Investments suspends trading in UK real estate fund

Reuters
Rugby Union - British & Irish Lions 2017 Tour Media Briefing - The Gherkin, London - 11/1/16. Standard Life Investments is named a principal partner of the British and Irish Lions. Mandatory Credit: Action Images / Andrew Boyers

LONDON (Reuters) - Standard Life Investments, the fund arm of insurer Standard Life (SL.L), suspended all trading in its UK real estate fund from 1100 GMT on July 4, it said on Monday.

The decision was taken after an increase in redemption requests due to uncertainty following the EU referendum result, the firm said in a statement.

It said the suspension would end as soon as practicable and would be formally reviewed at least every 28 days.

Standard Life Investments said last week that it had reduced the value of the fund, which invests in UK commercial real estate assets, by 5 percent.

(Reporting by Carolyn Cohn; editing by Rachel Armstrong)