Investors who have had money trapped in two big UK commercial property funds will be able to sell their holdings next month – amid a gloomy outlook for the property sector as the high street continues to shrink and many work remotely.
Aberdeen Standard Investments has said the suspension of dealings in Standard Life Investments UK Real Estate and Aberdeen UK Property will be lifted in just over three weeks’ time. They were introduced in March in the wake of the national lockdown.
Trapped: Aberdeen Standard Investments has said the suspension of dealings will be lifted in just over three weeks’ time
Other property funds that closed – including those run by L&G and Threadneedle – have already re-opened although rivals have yet to follow suit.
John Moore, investment expert at wealth manager Brewin Dolphin, fears investors could ‘rush for the door’, causing some funds to suspend dealings again if they cannot meet redemption requests.
Yet he is not a total pessimist. He believes some stock market listed property funds that specialise in growth areas such as supermarkets and distribution centres remain attractive investments.
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