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Alternative Market Briefing

Institutional investors to reduce exposure to UK real estate after Brexit

Friday, July 08, 2016

Komfie Manalo, Opalesque Asia:

A majority of institutional investors said they would reduce their exposure to UK real estate in the wake of Britain’s vote to leave the European Union in order to assess their expectations and intentions following the result.

In a survey of 90 institutional investors, data provider Preqin said that more half, or 57% of the investors stated that the referendum result makes it likely that they will invest less in the UK over the next 12 months, with just 11% expecting to invest more than in the previous year.

Andrew Moylan, Preqin's head of real estate products, said, "It is clear that institutional investors are adopting a wait-and-see approach to the UK real estate market in the wake of the Brexit vote. Over half of the investors surveyed by Preqin expect to invest less capital in the UK in the coming year than they would otherwise have done, and over the longer term a third of institutions may look to reduce their exposure."

The survey also found that over the longer term, the outlook seems more positive for the UK market. Although 32% of respondents stated that they expected to invest less in the UK over the longer term as a result of Brexit, the majority (55%) do not expect it to affect their approach to the UK market, and 13% anticipate allocating more capital to the UK.

UK-focused real estate funds suspend withdrawals

When asked about the performance of th......................

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