The Norwich Property Trust, the largest property fund for retail investors in the UK, fell in value by £570m (€798m) in the six weeks since the end of October as nervous investors pull assets out of the UK commercial property market.

At the end of November, the fund held £3.2bn of assets, compared to £3.69bn at the end of October, meaning the fund saw net outflows and negative performance worth about £490m over the month.