The move by M&G Investments follows “unusually high and sustained outflows” from its Property Portfolio.

The investment firm blamed Brexit uncertainty and ongoing turmoil in the retail sector for the move.

It said: “Brexit-related political uncertainty and ongoing structural shifts in the UK retail sector have made it difficult for us to sell commercial property.

“Given these circumstances, we have now reached a point where M&G believes it will best protect the interests of the Funds’ customers by applying a temporary suspension in dealing.”

M&G said “suspension will be regularly reviewed” and “will only continue as long as it is in the best interests of our customers, reopening as soon as liquidity levels have been sufficiently rebuilt.”

The M&G Property Portfolio invests in 91 commercial properties across retail, industrial and office sectors on behalf of UK retail investors.

The fund managed assets of £2.54 billion as at 31 October 2019.