UPDATE 3-Four firms cut value of UK property funds, Aberdeen fund extends suspension

Thu Jul 7, 2016 12:59pm EDT
 
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* LGIM's 2.3 bln stg fund cuts value by further 10 pct, cuts spread

* F&C's fund cuts value by 5 pct

* Kames cuts fund value by a further 5 pct

* CCLA cuts institutional fund value by 4.5 pct

* Aberdeen extends 24-hour fund suspension to next week

* Follows six funds suspending trading altogether (Adds Kames cutting fund value, L&G moving to zero pct spread, adds quotes, updates listed fund prices)

By Carolyn Cohn and Simon Jessop

LONDON, July 7 (Reuters) - Four fund managers cut the value of their UK property funds and a fifth extended a 24-hour trading suspension on Thursday, as the industry seeks to stem a tide of redemption requests since Britain's vote to leave the European Union.

A slump in the value of the pound and volatile stock markets since the referendum on June 23 have unnerved investors who are worried that the uncertainty will slow down business investment in Britain and hit demand to rent and buy commercial property.   Continued...