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Funds Move out of UK Property

LONDON-Institutional investors moved out of property in a big way in the final quarter of 2002, according to new government statistics, with the highest level of disinvestment by insurance companies and pension funds since records began 20 years ago.

By Graham Parker | Updated on April 02, 2003

LONDON-The institutional buying spree in UK commercial property came to a sudden halt at the end of 2002, according to the latest data from the office of National Statistics. Insurance companies and pension funds were net disinvestors in property by £2.1 billion in the 4th quarter of 2002, the highest level of net disinvestments since quarterly records began in 1983.

There was a substantial increase in sales by insurance companies in the fourth quarter to a record level of over £6 billion (), while pension funds sales of property also increased to £971 million. Insurance company property purchases eased back to £3.6 billion whilst pension funds bought nearly £1.4 billion worth of property.

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