5th Jul 2016 12:20
LONDON (Alliance News) - Aviva Investors, the fund management arm of FTSE 100-listed Aviva PLC, has suspended dealing on its property fund, the second asset manager to do so in two days, following heavy redemptions after the UK voted to leave the European Union, the Financial Times reported.
FT Adviser said Aviva Investors had suspended dealing in the GBP1.8 billion Aviva UK Property Trust with immediate effect after "extraordinary market circumstances" had affected the ability of the fund to meet redemptions.
The move comes after Standard Life Investments, the investment management arm of Aviva rival Standard Life PLC, had been forced to stop retail investors from selling out of one of its property funds after the UK's Brexit vote.
http://www.ftadviser.com/2016/07/05/investments/property/aviva-investors-suspends-bn-uk-property-trust-tuUypQxaHA805NZQhsGUvI/article.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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