The following funds have been suspended by the fund management groups:
| Fund name | Date suspended | Date suspension lifted or fund closed |
|
Aegon Property Income Feeder |
17.03.2020 (16.03.2020 with group) |
|
|
AVIVA Investors UK Property Feeder |
17/03/2020 |
|
|
M&G Feeder of Property Portfolio |
19/10/2023 |
|
|
M&G Property Portfolio |
19/10/2023 |
|
|
TM Home Investor Feeder |
31/07/2023 |
Fund to commence closing from 1 December 2023 |
Why is this happening?
The reason for each suspension may differ for each fund, but suspensions are put in place in order to protect the interests of every customer invested in the fund(s).
The decisions are consistent with the new rules issued by the Financial Conduct Authority (FCA), under which a fund must suspend dealing if a valuation is materially uncertain for 20% or more of the assets held in the fund. The suspension has been implemented to safeguard the interests of all investors. A period of suspension will give the valuers time to better understand the impact that coronavirus crisis is having on direct property market valuations.
What does it mean for investors?
At the moment, the suspended funds will continue to show an indicative price, and the value of your remaining units will be included in the overall value of your investments you will see online and in statements. As it is not possible to buy or sell units in a suspended fund, you will be unable to top-up (regular or adhoc), switch or make new withdrawals out of the funds.
What happens next?
The fund suspensions will remain in place until we are notified that the suspension instructions have been lifted.