The Trumbull Property Fund, UBS’s landmark real estate fund, is hemorrhaging money as investors withdraw their investment capital. Recently, the fund has seriously under performed and, as a consequence, has seen over $7 billion of $20 billion withdrawn.
According to Nori Lietzi, senior lecturer at the Harvard Business School, “When there is a redemption queue investors often feel they have to get in line so they aren’t the ones left to turn off the lights.”