Animal Spirits and Informed Reflection

The Columbia Threadneedle UK Property Authorised Investment Fund has followed Canada Life in proposing to lift suspensions on trading on 26 September.  Citing ‘animal spirits’ driving redemptions post-Brexit, MD Don Jordison considered that ‘more informed reflection has settled on the market’.  The fund has disposed of £167m of stock to meet redemptions, with a quoted discount of less than 1% compared with book value. Panic over?