FAST FIVE: Brit Stearns? UK Property Funds Gate Redemptions To Avoid Asset "Firesales"

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The last week – since The Bank of England bailed out its pension fund system – long-gilts and cable have rallied notably erasing much of the immediate pain felt in the margin-call/liquidity-fest chaos that forced the 'old lady' to step in.

However, as we noted over the weekend, the scars remain and funds are continuing to sell down assets, reducing exposures as the sudden collateral shortage has spooked many.

At the same time, BlackRock also imposed new restrictions on withdrawals (the £3.5bn UK Property fund).

So that's £8.5bn of assets now tied up.

“It's a fairly feeble market and you've thrown in some volatility.

Categories: ZH