Signs advertising homes, sold, for sale and under offer, are seen on a road in south London in this file photograph dated August 13, 2013. REUTERS/Andrew Winning
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Five of the UK's largest property funds are holding more than a fifth of their assets in cash rather than bricks and mortar, as fears persist of a repeat of last year's run on the real estate investment sector.Columbia Threadneedle's £1.2bn property fund has almost 30 per cent of its holdings in cash, according to its latest fact sheet.Large property funds run by Legal & General, F&C and Aberdeen also have more than a fifth of their assets in cash and equivalents. Property funds run by Henderson, Standard Life and M&G, which similarly blocked investors from pulling money during the commercial property crisis, have more than 17 per cent of their holdings in cash.Investors pulled £67m from the asset class in February, after withdrawing £58m in January and £84m in December, according to the Investment Association, the trade body for UK fund managers.
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