• 10 May 2021

    Property funds update – some funds are starting to deal again

    Since a raft of property funds were forced to suspend dealing in March 2020 amid the height of the Coronavirus (COVID-19) pandemic, some of those funds have either started trading again or are looking to lift their suspensions. Here you can see the latest updates.

    Why did some property funds suspend dealing in March 2020?

    The suspension was prompted by the impact Covid-19 had on the financial markets which meant some property funds were unable to accurately value their assets. This temporary fund suspension was implemented to safeguard the interests of all investors. As a result customers were unable to pay into, or make withdrawals from any of the affected funds.

    When will the property funds start dealing again?

    Some property funds have started dealing again. The table below shows which funds continue to be suspended and which are now open.  We’ll continue to update this page to reflect the position, as the funds start dealing again.

    Property fund name Open / Suspended
    Phoenix Wealth Aviva Investors Property Suspended
    Phoenix Wealth Aviva Investors Property S3 Suspended
    Phoenix Wealth Aviva Investors Property S4 Suspended
    Phoenix Wealth Aviva Investors Property (Life) Suspended
    Phoenix Wealth Janus Henderson UK Property **Open**
    Phoenix Wealth Janus Henderson UK Property S3 **Open**
    Phoenix Wealth Janus Henderson UK Property S4 **Open**
    Phoenix Wealth L&G UK Property **Open**
    Phoenix Wealth L&G UK Property S3 **Open**
    Phoenix Wealth L&G UK Property S4 **Open**
    Phoenix Wealth L&G Property (Life) **Open**
    Phoenix Wealth M&G Property Portfolio  **Open** 
    Phoenix Wealth M&G Property Portfolio S3  **Open**
    Phoenix Wealth M&G Property Portfolio S4  **Open** 
    Phoenix Wealth Threadneedle UK Property **Open**
    Phoenix Wealth Threadneedle UK Property S3 **Open**
    Phoenix Wealth Threadneedle UK Property S4 **Open**
    Phoenix Wealth Threadneedle UK Property (Life) **Open**
    Phoenix Wealth Threadneedle Pen Property (Closed to New Business) **Open**
    Phoenix Wealth Threadneedle Pen Property S2 (Closed to New Business) **Open**
    Phoenix Wealth Threadneedle Pen Property S3 (Closed to New Business) **Open**
    Phoenix Wealth Threadneedle Pen Property S4 (Closed to New Business) **Open**
    Aberdeen UK Property Feeder A Acc Suspended
    Aberdeen UK Property Feeder I Acc   Suspended
    ASI Global Real Estate Platform 1 Acc Suspended
    ASI Global Real Estate Platform 1 Inc Suspended
    ASI Global Real Estate Share Ret Platform 1 Acc Suspended
    ASI Global Real Estate Share Ret Platform 1 Inc Suspended
    Aviva Inv UK Prop Fdr Acc 1  Suspended
    Aviva Inv UK Property Feeder Acc 2 Suspended
    BMO UK Property Feeder 1 Acc **Open**
    BMO UK Property Feeder 1 Inc **Open**
    BMO UK Property Feeder 2 Acc **Open**
    BMO UK Property Feeder 2 Inc **Open**
    Janus Henderson UK Property PAIF Feeder I Acc **Open**
    Janus Henderson UK Property PAIF Feeder I Inc **Open**
    L&G UK Property Feeder I Acc  **Open**
    L&G UK Property Feeder I Inc **Open**
    Standard Life Investments UK Real Estate Accumulation Feeder Platform 1 Acc **Open**
    Standard Life Investments UK Real Estate Accumulation Feeder Platform 1 Inc **Open**
    Threadneedle UK Property Authorised Trust INST Acc GBP **Open**
    Threadneedle UK Property Authorised Trust INST Inc GBP **Open**

       

    What does this mean for customers invested in the listed funds?

    If you have contacted us previously to request a transaction, we’ll let you know when the property fund/s customers were invested in start dealing again.

    For non self-invested policies, customers will be able to request transactions as normal in the funds that are not suspended. Please note, if your customers are invested in more than one property fund they will only be able to do whole policy transactions once all of the property funds they are invested in have been unsuspended; if this causes your customer any concerns that you would like to discuss, please don’t hesitate to contact us.

    For self-invested policies, customers will be able to request transactions as normal in the funds that are not suspended, and also carry out whole policy transactions if they are invested in multiple suspended property funds.

    Please be aware that each fund is reviewed separately so we expect them to start dealing at different times.  

    What does it mean for customers invested in a property fund that continues to be suspended?

    Customers are not able to pay into, or make withdrawals from any of the affected funds until the suspension is lifted; please don’t hesitate to contact us if you wish to discuss this further. We will continue to update this webpage to show when the funds start dealing again so please check back regularly for any further updates.

    Where can I find out more?

    • You can always contact us if you have any questions. You can also view details of the funds you’re invested in online. To do this, you’ll need to be registered for our online services. Registering is easy, just visit our registration page.
    • 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 5pm, Monday to Friday.