UK Investors Receive Good News From Aviva

  • 15 years ago
  • Uncategorized

UK property investors had good news as signs of stability in the commercial property sector indicated stability. The Investment Property Databank index rose in August and September after almost two years of negative returns. The positive news has also resulted in the Aviva UK property fund being released to its investors after they had been unable to access their funds
The Aviva UK property fund holders can now withdraw their money more than nine months after the group imposed a freeze on redemptions. The worrying restrictions meant more than 200,000 savers were not able to surrender or transfer their investments. The cash level in the unit-linked property fund dropped from 7 per cent to 3.1 per cent. David Barral, Aviva marketing director, said: “We understand restricting withdrawals was inconvenient for some but this was in the interests of the majority.”

Aegon, Standard Life and Scottish Widows funds also locked in investors but have since eased or lifted restrictions. Trading in New Star International Property fund – now Henderson International Property fund – is still suspended.

Aviva said the cash level of the £2.6 billion fund had recovered to 12 per cent following signs of stability in commercial property. UK houses for sale

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