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VIRUS OUTBREAK

Manulife US Reit blames price fall on fund sell-off, private bank margin calls

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Jill Smith, CEO of the Reit manager, says the sponsor is limited in its ability to buy back units to bolster prices, given the regulation which disallows any unitholder from holding more than a 9.8 per cent stake in the Reit. The sponsor already owns 8.6 per cent of the Reit.

Singapore

THE manager for Manulife US Real Estate Investment Trust blames the Reit's "horrific" price drop, which "wiped out four years of work", on mass selling by index funds and exchange traded funds, margin calls from private banks, and funds redemption and switching to other counters...