“To seek fire sale prices just to get some liquidity doesn’t feel right. We’ve started to transact on a number of properties and a number of others are close to transacting, and they are pretty much in line with the net asset value at the time of Brexit,” he said.  “That may sound surprising – clearly one of the reasons clients wanted to get out is they thought prices would fall – but because of the fall in sterling it has become a much more attractive market for non-sterling based buyers. They’ve just had a 10 to 15pc windfall.  "Sterling has acted as quite a good moderator for market behaviour - I suspect that when these funds do reopen they will be broadly in line and we may even find that property prices have moved up from the pre-Brexit levels."  Mr Formica had urged voters to remain in the EU, but believes the Government has taken the right steps since the leave vote to promote confidence.  “I wished the UK had remained in , so I am quite saddened by the result, but as with anything that is thrown at you, you should always try to turn it into an opportunity,” the chief said.  “I look at the City of London as the global hub for financial services, and that means global, not just Europe, so I want to make sure we preserve the strength of the UK and the City in financial services globally.  “I’m quite please with they way [the government] has sought to strike deals with China, America, Canada, Australia, and broaden that global appeal as well as negotiating with Europe.”  He was speaking as Henderson reported a 14pc fall in underlying profits to £100.5m in the first half of the year.
Commercial property funds could end up benefitting from Britain's exit from the European Union, as foreign buyers take advantage of the weak pound to snap up British assets, according the asset manager Henderson.