UK removes 'valuation uncertainty' clause from frozen property funds

Real estate funds across the UK are set to be unlocked following a recommendation by an industry forum this morning to lift so-called material uncertainty clauses. The UK Material Uncertainty Clauses (MUCs) was introduced in March this year to address concerns that the propery market (and its holdings) could not be accurately valued while the sector was essential at a standstill. Yet according to a statement this morning, the Royal Institution of Chartered Surveyors (RISC), which set up...