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21 May 2021
Which funds are affected?
is this happening?
Aviva Investors (Aviva) said it has become increasingly challenging to generate positive returns from the asset class, while also maintaining the necessary liquidity to re-open the funds.
Aviva had placed the funds under review following its value assessment report, published in January, but has now concluded that it is in investors’ best interests to wind-up the funds and return cash to investors in a fair and orderly manner.
The review, combined with forecast redemption levels upon re-opening, concluded that the Funds’ ability to fully benefit from the economies of scale and the diversification of investments that collective investment schemes normally bring would soon be
limited. Size is particularly important for funds that invest in property directly because the costs involved in acquiring, managing and disposing of properties are usually much higher that the costs associated with other asset types.
What does this mean for customers invested in one of these funds?
Where can I find out more?
In the meantime, if you have a policy query, you can call us on 0345 129 9993. We’re here from 8.30 to 5pm, Monday to Friday.