Financial Times FT.com

Widows limits pensions exodus

By Daniel Thomas

Published: January 22 2008 02:00 | Last updated: January 22 2008 02:00

Scottish Widows has become the latest fund manager to be forced to close the door to investors in its £2.1bn property pension funds.

Investors will now need to wait up to 180 days to withdraw money from Scottish Widows' life property fund and pension property fund after a run on cash took liquidity levels to a crisis point. The cash level within the funds is now less than 2 per cent.

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