Aberdeen lifts suspension of £3.2b U.K. property fund
Aberdeen Asset Management has resumed trading in its £3.2 billion ($4.25 billion) U.K. property fund, lifting a suspension that was imposed by the company a week ago.
Aberdeen was among the many companies that suspended commercial property funds because of an increase in demand for redemptions after the United Kingdom’s Brexit vote to leave the European Union.
Last week, Aberdeen wrote down the value of the Aberdeen U.K. Property Fund by 17 percent. Investors are once again able to trade in the fund, albeit at the lower value, which Aberdeen said, “reflects the current market environment and the fact that short-term sales in the property market have relatively penal consequences."
The price may be adjusted on a daily basis to reflect the funds’ requirem