Another student accommodation fund suspends trading
An offshore-listed student accommodation fund has suspended trading after being hit with a high level of redemption requests.
The £282m Channel Islands-listed Mansion Student Accommodation fund (MSAF) has closed its five share classes, which are in sterling, US dollar, Singapore dollar, Swiss franc and the euro, to redemptions from existing investors and purchases from new investors
A document filed with the Channel Island Stock Exchange says: “The reason for the suspension is because the continuing net redemptions from the MSAF cells have exhausted the cash reserves more quickly than they can be replenished.” …