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Property funds halt trading as Brexit fallout deepens

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The fallout from the Brexit vote reverberated through the markets on Tuesday as two more City property funds barred investors from withdrawing their cash and the Bank of England warned that risks to the financial system had begun to “crystallise”.

More fund managers should join the fight on boardroom pay

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Dominic Rossi at Fidelity Worldwide Investment is right: a long-term incentive plan is nothing of the sort if executives can get their hands on the financial prizes after only three years. That’s no time at all – about half the average business cycle – and it introduces a lottery-style element.

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