There is good news for some Aegon investors, after the Dutch asset manager confirmed it has re-opened its Property fund, with effect from 6 October.
It means clients invested across the Pension, Life and Aegon Retirement Choices (Arc) ranges will be able to access their investments for the first time in over six months.
It is not the first Aegon property fund to be re-opened, with eight others already back up and running.
No details were provided about why this fund resumed trading and dozens of others remain suspended.
International Adviser has reached out to the firm, requesting further details.
Pandemic problems
Aegon took the decision on 18 March to suspend trading for several property funds across its Pension, Life, Aegon TargetPlan, Aegon One Retirement (AOR), Arc and Aegon Platform fund ranges.
At the time, the company said: “The current coronavirus pandemic has led to increased levels of volatility in financial markets. When this happens, it can make it difficult for markets to function normally.
“This is currently the case for funds that invest in physical UK commercial properties.”
It added: “The scale of volatility has impacted on the ability of independent property valuers to accurately assess the value of physical properties.
“We have been informed that the UK valuer community has invoked the ‘uncertain market valuation clause’ – which means, at present, they don’t believe they can provide accurate valuations on UK commercial properties in current market conditions.”
Growing roster
Three other Aegon property funds resumed trading in June; BMO Property Growth & Income, BMO Property Growth & Income Feeder, and the TM Home Investor Feeder fund – which are available on Arc and the Aegon Platform.
Six re-opened in September;
- Scottish Equitable Threadneedle UK Property Trust fund;
- Scottish Equitable Threadneedle UK Property fund (Arc);
- Aegon Threadneedle Pensions Property (BLK);
- MGTS St Johns High Income Property fund;
- MGTS St John Property Authorised Trust;
- Threadneedle UK Property Authorised Investment Fund;
Dozens of funds, however, remain closed pending “greater clarity over UK commercial property values”.
