Aberdeen lifts suspension of property fund

Martin Gilbert

Aberdeen Asset Management said it has lifted the suspension of trading in its £3.2 billion UK property fund.

Uncertainty over the UK commercial real estate market following the EU referendum result led a number of British property funds to suspend trading.

The funds had been hit by a flood of redemption requests after the UK voted narrowly to leave the EU last month.

“Investors should be aware that the price may be adjusted on a daily basis to reflect the funds’ requirement to provide liquidity and the need to protect all investors,” said Aberdeen Asset Management chief executive Martin Gilbert.

“The market may take time to find its level but I have no doubt that property will continue to play an important part in investors’ portfolios.”

 

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.