• 19 October 2021

    Aviva Investors Property funds - update on closure and distribution of money

    Aviva Investors (Aviva) will be making a series of capital payments, as and when they manage to sell the funds’ assets. We have now received the second capital payment from Aviva of 18.93% (for Life funds) and 19.77% (for Pension funds) of the total net asset value of the funds, as at 18 October 2021.

    What do you need to do?

    We received the second capital payment from Aviva on 18 October 2021 and will now calculate your share of the money and pay it into your policy:

    • If you or your adviser already told us which fund you would like to invest the capital payments from Aviva into, then we will pay to into your selected fund and no further action is needed.
    • If we didn’t get an instruction from you or your adviser, we will pay it into the Phoenix Wealth Money Market fund.

    Alternatively, if you wish to select a different fund to invest this second payment into, then your adviser will know how to send us your instructions.  

    If you don’t have an adviser, here’s what you’ll need to do: 

    • For non self-invested policies: please send us your instruction by email to drawdown@phoenixwealth.co.uk
    • For self-invested policies: please write out your instructions specifically stating that you'd like us to pay your portions of the payments from the Aviva Investors Property fund into the [full name of the fund of your choice]. Please include your policy number You'll then need to sign your instructions, scan and email them to isd@sipp-phoenixwealth.co.uk

    What happens next?

    We will continue to update this 'News and views' section of our website, as and when Aviva release further investments. Please check back regularly for any further updates.

    Where can I find out more?

    • Take a look at our Q&As: covering all the key questions we are getting on this topic. You can download them here.
    • Fund research: you can find details of alternative funds and the Phoenix Wealth Money Market fund, including performance and a factsheet through our fund information centre.
    • Your existing fund portfolios: you can view the funds you're invested in online. To do this, you'll need to be registered for our online services. Registering is easy - for non self-invested policies, just visit our registration page here.
    • About the first capital payment: you can find a reminder of details of the first capital payment in our news article here.  

    You can also contact us - we're here from 8.30am to 5pm, Monday to Friday.

    We strongly recommend that you discuss the fund closure with your financial adviser who will be able to review your investments and advise you. In particular, we'd like to highlight that you should get financial advice on what to do with the capital distributions and ensure that you're aware of the risks of staying invested in a cash (money market) fund - which mean it may not be suitable for long term investment. If you don't have an adviser, you can find one by visiting Unbiased.