Suspension of Aberdeen Standard Investments' Property Funds

The FCA has published a statement confirming that, in relation to uncertainty over the value of commercial real estate, suspensions can be used by managers of open-ended funds, in line with their obligations under applicable regulations.

Date:
27/07/20

PAIFS:

Temporary suspension continues

As Authorised Fund Manager for the Aberdeen UK Property Fund and the SLI UK Real Estate Fund (and their respective feeder funds), we are required to formally review the suspension with the Depositary at least every 28 days.

The fund’s Standing Independent Valuers continue to cite material valuation uncertainty at 22 July 2020, therefore we are still unable to produce a price for the funds which we can say with any confidence reflects the true market value of the assets. The decision was therefore made to continue with the temporary suspension of these funds in order to best protect investors’ interests.

The funds continue to be actively managed throughout the suspension, with a key focus being the protection of income given the prevailing market environment. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
27/07/20

GREF:

Temporary suspension continues

As Authorised Fund Manager for the ASI Global Real Estate Fund, we are required to formally review the suspension with the Trustee and Depositary at least every 28 days.

The fund’s Standing Independent Valuer continue to cite material valuation uncertainty at 22 July 2020, therefore we are still unable to produce a price for the fund which we can say with any confidence reflects the true market value of the assets. The decision was therefore made to continue with the temporary suspension of the fund in order to best protect investors’ interests.

The fund continues to be actively managed throughout the suspension, with a key focus being the protection of income given the prevailing market environment. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
01/07/20

Aberdeen UK Property Fund and the SLI UK Real Estate Fund - temporary suspension continues

As Authorised Fund Manager for the Aberdeen UK Property Fund and the SLI UK Real Estate Fund (and their respective feeder funds), we are required to formally review the suspension with the Depositary at least every 28 days.

The fund’s Standing Independent Valuers continue to cite material valuation uncertainty at 1 July 2020, therefore we are still unable to produce a price for the funds which we can say with any confidence reflects the true market value of the assets. The decision was therefore made to continue with the temporary suspension of these funds in order to best protect investors’ interests.

The funds continue to be actively managed throughout the suspension, with a key focus being the protection of income given the prevailing market environment. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
01/07/20

ASI Global Real Estate Fund - temporary suspension continues

As Authorised Fund Manager for the ASI Global Real Estate Fund, we are required to formally review the suspension with the Trustee and Depositary at least every 28 days.

The fund’s Standing Independent Valuer continue to cite material valuation uncertainty at 1 July 2020, therefore we are still unable to produce a price for the fund which we can say with any confidence reflects the true market value of the assets. The decision was therefore made to continue with the temporary suspension of the fund in order to best protect investors’ interests.

The fund continues to be actively managed throughout the suspension, with a key focus being the protection of income given the prevailing market environment. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
03/06/20

Aberdeen UK Property Fund and the SLI UK Real Estate Fund - temporary suspension continues

As Authorised Fund Manager for the Aberdeen UK Property Fund and the SLI UK Real Estate Fund (and their respective feeder funds), we are required to formally review the suspension with the Depositary at least every 28 days.

The fund’s Standing Independent Valuers continue to cite material valuation uncertainty at 3 June 2020, therefore we are still unable to produce a price for the funds which we can say with any confidence reflects the true market value of the assets. The decision was therefore made to continue with the temporary suspension of these funds in order to best protect investors’ interests.

The funds continue to be actively managed throughout the suspension, with a key focus being the protection of income given the prevailing market environment. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
03/06/20

ASI Global Real Estate Fund - temporary suspension continues

As Authorised Fund Manager for the ASI Global Real Estate Fund, we are required to formally review the suspension with the Trustee and Depositary at least every 28 days.

The fund’s Standing Independent Valuer continue to cite material valuation uncertainty at 3 June 2020, therefore we are still unable to produce a price for the fund which we can say with any confidence reflects the true market value of the assets. The decision was therefore made to continue with the temporary suspension of the fund in order to best protect investors’ interests.

The fund continues to be actively managed throughout the suspension, with a key focus being the protection of income given the prevailing market environment. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
12/05/20

Aberdeen UK Property Fund and the SLI UK Real Estate Fund - temporary suspension continues

As Authorised Fund Manager for the Aberdeen UK Property Fund and the SLI UK Real Estate Fund (and their respective feeder funds), we are required to formally review the suspension with the Depositary at least every 28 days.

The fund’s Standing Independent Valuers continue to cite material valuation uncertainty at 12 May 2020, therefore we are still unable to produce a price for the funds which we can say with any confidence reflects the true market value of the assets. The decision was therefore made to continue with the temporary suspension of these funds in order to best protect investors’ interests.

The funds continue to be actively managed throughout the suspension, with a key focus being the protection of income given the prevailing market environment. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
14/04/20

Aberdeen UK Property Fund and the SLI UK Real Estate Fund - temporary suspension continues

As Authorised Fund Manager for the Aberdeen UK Property Fund and the SLI UK Real Estate Fund (and their respective feeder funds), we are required to formally review the suspension with the Depositary at least every 28 days.

The fund’s Standing Independent Valuers continue to cite material valuation uncertainty at 14 April 2020, therefore we are still unable to produce a price for the funds which we can say with any confidence reflects the true market value of the assets. The decision was therefore made to continue with the temporary suspension of these funds in order to best protect investors’ interests.

The funds continue to be actively managed throughout the suspension, with a key focus being the protection of income given the prevailing market environment. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
14/04/20

ASI Global Real Estate Fund: temporary suspension continues

As Authorised Fund Manager for the ASI Global Real Estate Fund, we are required to formally review the suspension with the Trustee and Depositary at least every 28 days.

The fund’s Standing Independent Valuer continue to cite material valuation uncertainty at 14 April 2020, therefore we are still unable to produce a price for the fund which we can say with any confidence reflects the true market value of the assets. The decision was therefore made to continue with the temporary suspension of the fund in order to best protect investors’ interests.

The fund continues to be actively managed throughout the suspension, with a key focus being the protection of income given the prevailing market environment. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
18/03/20

Markets around the world have experienced huge disruption as COVID-19 spreads and trading in the UK property market is being severely impacted. As a result the funds’ Standing Independent Valuers have informed us it is not currently possible to provide accurate and reliable valuations for certain assets, including the properties held in the Funds. We are therefore unable to produce a price for the Funds which we can say with any confidence reflects the true value of the assets.

Therefore in order to protect the interests of investors, we have suspended dealing in the following funds:

  • Aberdeen UK Property Fund and Aberdeen UK Property Feeder Unit Trust
  • Standard Life Investments UK Real Estate Fund, Standard Life Investments UK Real Estate Accumulation Feeder Fund and Standard Life Investments UK Real Estate Income Feeder

This action reflects the exceptional circumstances in the UK property market and the need to protect client interests by suspending trading when there is material uncertainty regarding how the assets should be valued. We will aim to lift the suspension as soon as confidence returns to the market and there is more certainty regarding asset valuations, taking into account the best interests of customers and investors. We will continue to keep you updated and thank you for your patience and understanding in these difficult times.


Date:
18/03/20

ASI Global Real Estate Fund - update

Further to the suspension of the UK Property Funds, the Standing Independent Valuer for the Global Real Estate fund has informed us that there is material uncertainty over certain valuations of the fund’s physical assets. Currently this specifically applies to the Fund’s European assets but this remains a rapidly evolving situation.

Therefore to protect the interests of investors, we have additionally suspended dealing in the ASI Global Real Estate Fund.

For a full list of ISINs click here

Warning
Risk warning - Investment involves risk. The value of investments, and the income from them, can go down as well as up and an investor may get back less than the amount invested. Past performance is not a guide to future results.