Aviva Investors is shutting its £347m UK Property fund, which has 3,400 investors, more than a year after suspending dealing, saying there is not enough liquidity to reopen it.
It it also closing two feeder funds. The funds will be wound up on 19 July and the cash returned to investors “in a fair and orderly manner” – after the properties owned by the funds have been sold.
As these sales complete, cash will be returned to investors in a series of payments, starting in late July. Aviva Investors expects this process to take 12 to 24 months, although it may take longer, depending on market conditions. The initial payment will be at least 40% of the total net asset value of the UK Property Fund, on the date of the closure – at the moment, this would amount to £139m.
The UK Property Fund’s top holdings are the Ealing Cross office complex valued at £60m to £80m, along with Lombardy Shopping Park in Hayes, the Corn Exchange in Manchester city centre and the Guildhall shopping centre in Exeter, which are all worth £20m to £40m each.
galad2003 on May 20th, 2021 at 00:02 UTC »
Thank goodness I bought in at the top.
150mgTrenbolone on May 19th, 2021 at 15:29 UTC »
If you don't check the price then there's nothing to worry about
blackmist on May 19th, 2021 at 14:59 UTC »
There was a post a few weeks back giving helpful tips on how to get into crypto, and the last one was "get in now because we're still on the ground floor!"
Clearly forgot that basements exist...