UK unfrozen property funds see more than 300 mln stg in Oct outflows-Calastone

Adds quote, detail, Columbia Threadneedle

LONDON, Nov 3 (Reuters)British property funds which have started trading again after a six-month freeze saw 336 million pounds ($434.41 million) in net outflows in October, the third worst monthly performance on record for the sector, fund network Calastone said on Tuesday.

Much of the 70 billion pound UK property fund sector was suspended in March after surveyors said it was not possible to be sure about valuations due to the COVID-19 pandemic.

Several asset managers, including Columbia Threadneedle, St James’s Place SJP.L, Legal & General LGEN.L and BlackRock BLK.N, have reopened their funds in recent weeks, as that valuation uncertainty eased in September.

“Now that so many property funds have reopened for business, the big redemptions are simply a shake-out, as those investors wanting out of real estate assets finally have an opportunity to retrieve their capital,” said Edward

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