Aberdeen Standard reopens £2.5bn property funds

Aberdeen Standard Investments (ASI) has announced its intention to lift the temporary dealing suspension on its £1.6 billion Standard Life Investments UK Real Estate Fund and £900 million Aberdeen UK Property Fund.

Dealing in the funds will resume on November 16.

ASI said: “Following the declaration  of ‘material valuation uncertainty’ by the funds’  standing independent valuers in March and in accordance with FCA guidelines the funds were temporarily suspended to protect the interests of all investors. 

“The material valuation uncertainty clauses were removed from all properties held by the funds by the valuers at the end of September and following careful consideration of a number of factors ASI intends to implement the re-opening process.”

George Shaw, manager of the Standard Life Investments UK Real Estate Fund and the Aberdeen UK Property Fund, said: “We are delighted to announce our plans to resume dealing in the two funds from 16 November.

“We recognise that the dealing suspension will have been inconvenient to investors, however, the decision was made to ensure the fair treatment of all clients and customers.

“Despite the market disruption due to the Covid – 19 pandemic we still consider UK commercial property has a role to play in a diversified portfolio for the longer term investor”.