UK's Unite falls after reporting lower fund valuations
BUZZ-UK's Unite falls after reporting lower fund valuations ** Shares of Britain's largest student housing provider Unite Group UTG.L down 4.8% at 421 pence
** Co says UK Student Accommodation Fund's property portfolio was valued at £2.82 billion ($3.71 billion), a 4.0% reduction on a like-for-like basis during Q3
** UTG reports London Student Accommodation Joint Venture's property portfolio was valued at £1.90 billion, a 3.4% reduction on a like-for-like basis during Q3
** Co says the fall in valuations reflects increased property yields due to investors' higher return requirements and rental values reductions for those properties
** JPM analysts say fund valuations are a a bit worse than expected
** Up to Wednesday's close, stock has fallen about 21%
($1 = 0.7582 pounds)
(Reporting by Simone Lobo in Bengaluru)
((Simone.Lobo@thomsonreuters.com, +919920570373))