Brexit pops investors’ fund liquidity illusion

An investor monitors stock market prices in Kuala Lumpur August 5, 2011. Asian stocks tumbled as much as 5 percent on Friday after panic triggered the worst sell-off on Wall Street since the global financial crisis, prompting investors to slash positions and scramble for cash and government bonds. REUTERS/Bazuki Muhammad (MALAYSIA - Tags: BUSINESS) - RTR2PMP5

An investor monitors stock market prices in Kuala Lumpur August 5, 2011. Asian stocks tumbled as much as 5 percent on Friday after panic triggered the worst sell-off on Wall Street since the global financial crisis, prompting investors to slash positions and scramble for cash and government bonds. REUTERS/Bazuki Muhammad (MALAYSIA - Tags: BUSINESS) - RTR2PMP5

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5 Jul 2016 | By   Neil Unmack Follow @unmack1
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Asset managers' shares were pummeled after Standard Life and Aviva halted redemptions on property funds that mix short-term funding and illiquid assets. Bond and equity funds are less vulnerable, but not immune. In dangerous times, stable long-term funding deserves a premium.

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