Which funds are affected?
The following funds join the M&G property fund which remains suspended. See
M&G article.
Fund
name
|
Fund manager
|
Sedol
|
Aberdeen UK Property Feeder A Acc |
Aberdeen Fund Managers Limited |
BTLX1M9 |
Aberdeen UK Property Feeder I Acc |
Aberdeen Fund Managers Limited |
BTLX1P2 |
Aviva Inv UK Prop Fdr Acc 1 |
Aviva Investors UK Fd Serv |
BYYZ0S6 |
Aviva Inv UK Prop Fdr Acc 2 |
Aviva Investors UK Fd Serv |
BYYZ0W0 |
BMO Property Growth & Income I Acc |
BMO |
BQWJ868 |
Janus Henderson UKPrpPAIFd A A |
Henderson Global Investors Ltd |
BYP82B1 |
Janus Henderson UKPrpPAIFd I A |
Henderson Global Investors Ltd |
BYP82D3 |
L&G UK Property Feeder I Acc |
Legal & General UT Mgr Ltd |
BK35F40 |
L&G UK Property Feeder I Inc |
Legal & General UT Mgr Ltd |
BK35F39 |
L&G UK Property Feeder R Inc |
Legal & General UT Mgr Ltd |
BK35F28 |
Phoenix Wealth AvivaInvPropPn |
Phoenix Wealth |
B42MYT8 |
Phoenix Wealth AvivaInvPropPn S3 |
Phoenix Wealth |
B3V4CB6 |
Phoenix Wealth AvivaInvPropPn S4 |
Phoenix Wealth |
B3DBKP5 |
Phoenix Wealth AvivaInvPropP Feeder (Life) |
Phoenix Wealth |
3221068 |
Phoenix Wealth HendUKPropPn S3 |
Phoenix Wealth |
B463HR6 |
Phoenix Wealth HendUKPropPn S4 |
Phoenix Wealth |
B3DBKF5 |
Phoenix Wealth HendUKPropPn |
Phoenix Wealth |
B3YLLS4 |
Phoenix Wealth L&GUKPropPn |
Phoenix Wealth |
B3S45R6 |
Phoenix Wealth L&GUKPropPn S3 |
Phoenix Wealth |
B3XSF73 |
Phoenix Wealth L&GUKPropPn S4 |
Phoenix Wealth |
B4L9RT1 |
Phoenix Wealth L&GUKPrty Feeder (Life) |
Phoenix Wealth |
B4K8ZM8 |
Phoenix Wealth ThrdndUKPropPn |
Phoenix Wealth |
B3RGZR3 |
Phoenix Wealth ThrdndUKPropPn S3 |
Phoenix Wealth |
B3WRX22 |
Phoenix Wealth ThrdndUKPropPn S4 |
Phoenix Wealth |
B4N4XD0 |
Phoenix Wealth ThrdndUKPropPn Feeder (Life) |
Phoenix Wealth |
B4MB558 |
ASI Gbl RI Est R Pf 1 Acc |
Standard Life Investments |
B774LD3 |
ASI Gbl RI Est R Pf 1 Inc |
Standard Life Investments |
B700D76 |
Stan Life Inv UKRIEstAFdr Inst |
Standard Life Investments |
BYPHPB9 |
Stan Life Inv UKRIEstAFdr Plt1 Acc |
Standard Life Investments |
BYPHPD1 |
Stan Life Inv UKRIEstAFdr Ret Acc |
Standard Life Investments |
BYPHP97 |
Threadneedle UK Prp AutTstFdr INA £ |
Threadneedle |
BQ3G0Y0 |
Threadneedle UK Prp AutTstFdr RNA £ |
Threadneedle |
BQ3G114 |
Why is
this happening?
As the coronavirus pandemic has created material uncertainty over the value of UK property, the appointed valuers for each of the funds' direct property holdings are unable to provide accurate and reliable valuations of their underlying assets.
These suspensions are in line with the new Financial Conduct Authority (FCA) rules set to come into force in September which - in the best interest of investors - require property funds to temporarily suspend dealing if a valuation is materially uncertain for 20% or
more of the assets held in the fund.
The temporary fund suspensions have therefore been implemented to safeguard the interests of all investors whilst allowing the independent valuers to better understand the impact that the coronavirus crisis is having on direct property market valuations.
The managers will look to lift their fund suspensions as soon as it is appropriate to do so.
What does this mean for customers invested in one of these
funds?
These temporary fund suspensions mean that customers are currently unable to pay into, or make withdrawals from any of the above named funds until they start dealing again.
If customers have any ongoing transactions that are impacted by these suspensions, we'll let you know what action they can take. If customers don't have an adviser, we'll contact them directly.
We will continue to update our website when we receive further information. If you have a policy query, please call us on 0345 129
9993. We're here from 8.30am to 5.30pm, Monday to Friday.