The £1.2bn L&G UK Property fund will adopt a 'hybrid' approach, investing equally in direct property and real estate investment trusts
UK asset manager cited waning investor interest among reasons why it is calling time on the fund
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Backers weigh future of flagship Breit offering after results last week
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Cash in the fund at a level where future redemption requests cannot be met 'until a further orderly sale of assets has completed'
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More than £100m was pulled from a sample of property funds tracked by Calastone in the 10 days following the tax cuts announced by UK chancellor Kwasi Kwarteng
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The asset managers have imposed limits on withdrawals as pension funds seek to reduce exposure to real estate
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