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We’ve introduced a delay period on some of our property funds
Standard Life Property Fund
Standard Life Global Real Estate Fund
Updated 19 May 2020
With the spread of coronavirus continuing to have a significant impact on financial markets, Aberdeen Standard Investments have suspended dealing on their property funds.
This decision has been made as they are unable to get accurate valuations for the physical properties and land (assets) they hold in their funds due to the ongoing market uncertainty.
As a result we have introduced a deferral period on requests to take money out of the Standard Life Property Fund and the Standard Life Global Real Estate Fund or to switch from these funds to another fund.
We will also not be taking any new monies into these funds at this time.
Property suspension FAQ's
Why is this happening?
Properties held by these funds are regularly valued by surveyors. Due to the ongoing uncertainty in financial markets at this time, surveyors are unable to provide a high level of certainty on the valuations. The fund managers are therefore allowed to suspend transactions in their funds until such time as market conditions improve.
By suspending the funds, these managers aim to protect existing investors from being disadvantaged by those who are looking to either buy or sell holdings in the funds while valuations are uncertain.
How long will this last?
It is not known how long this will last as the impact of the coronavirus is constantly changing.
These funds will remain in deferral until the investment manager lifts the suspension.
What happens next?
We’ll continue to update this note as and when further information becomes available.
We will be writing to investors to confirm what’s happening and how it affects them.
We’ll also let you know once the delay period has been lifted.
Thank you for your patience and understanding in these difficult times.