Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Savills plc    SVS   GB00B135BJ46


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Canada Life, Savills fire up frozen UK property funds

10/08/2020 | 12:33pm EST

LONDON (Reuters) - Canada Life reopened its suspended 341 million pound UK property fund on Thursday and Savills Investment Management said it had partly reopened two funds, as the sector shows further signs of life after a six-month freeze.

Much of Britain's 70 billion pound property fund market was suspended in March on uncertainty about valuations as a result of the COVID-19 pandemic.

Surveyors lifted that uncertainty warning last month and funds such as those managed by BlackRock and Legal and General have started to reopen.

Others have been more cautious, amid concern over the possibility of large investor withdrawals, particularly for funds which allow investors to take their money out daily.

Canada Life's LF CanLife UK Property ACS, which usually offers daily redemptions, started trading again on Thursday, the firm said in an emailed statement.

Harry de Ferry Foster, co-head of UK at Savills Investment Management, said the firm recently completed outstanding redemption requests from March for two funds with quarterly redemption periods - the UK Income and Growth Fund and the Charities Property Fund.

June and September redemption requests would be completed in December, he said.

The funds "chose to open cautiously", de Ferry Foster said, to avoid the risk of hefty redemption requests and maintain strong cash levels for further capital investment.

Britain's Financial Conduct Authority (FCA) has proposed that a wait of up to six months for redemptions could avoid a stampede by investors and widespread fund suspensions in future.

The Bank of England on Thursday backed the FCA's plans, saying there could be benefits from an even longer delay.

(Reporting by Carolyn Cohn, Editing by Lawrence White and Susan Fenton)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BLACKROCK, INC. 1.63% 715.11 Delayed Quote.42.25%
LEGAL & GENERAL PLC -1.61% 256.3 Delayed Quote.-15.41%
LF CORP. -4.18% 14900 End-of-day quote.-19.46%
SAVILLS PLC -1.08% 919.5 Delayed Quote.-18.33%
All news about SAVILLS PLC
11/27SAVILLS : How Covid-19 has impacted residential real estate transactions around ..
11/26SAVILLS : Luxury retailers pivot global expansion strategies towards Asia Pac
11/26SAVILLS : JTRE London launches 85,000 sq ft commercial space at landmark £400m T..
11/26GOVERNMENT SPENDING REVIEW 2020 : Investment in place-making, infrastructure and..
11/25SAVILLS : OMG what a good deal, new occupier signs up for three new units at Tun..
11/25SAVILLS : brings Guernsey commercial and residential teams together under new ro..
11/25SAVILLS : McGuireWoods London LLP to relocate to 5 New Street Square, EC4
11/25SAVILLS : Aldi's contractor team now on site at Peterborough One Retail Park
11/25SAVILLS : Is now the time for universities to relocate non-academic staff off-ca..
11/24SAVILLS : How changes in commuting patterns, office development and new sectors ..
More news
Sales 2020 1 765 M 2 349 M 2 349 M
Net income 2020 51,9 M 69,1 M 69,1 M
Net Debt 2020 55,3 M 73,6 M 73,6 M
P/E ratio 2020 24,5x
Yield 2020 1,01%
Capitalization 1 271 M 1 694 M 1 691 M
EV / Sales 2020 0,75x
EV / Sales 2021 0,67x
Nbr of Employees 39 580
Free-Float 92,6%
Duration : Period :
Savills plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAVILLS PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 972,50 GBX
Last Close Price 927,00 GBX
Spread / Highest target 27,8%
Spread / Average Target 4,91%
Spread / Lowest Target -8,31%
EPS Revisions
John Jeremy Mark Ridley Group Chief Executive Officer & Director
Nicholas Ferguson Non-Executive Chairman
Simon James Blouet Shaw Group Chief Financial Officer & Executive Director
Timothy George Freshwater Senior Independent Non-Executive Director
Rupert Hugo Wynne Robson Independent Non- Executive Director