Standard Life Investments (SLI) has become the latest property fund provider to announce a reopening of its product, citing a stabilisation in the market and increased levels of portfolio liquidity.
The £2.5bn SLI UK Real Estate fund was the first product to suspend dealing following the Brexit vote on July 4, and was soon followed by a number of peers as the UK's vote to leave the EU sparked an "unprecedented level of redemptions" from the sector.
In a statement today (September 26), SLI said an asset disposal programme and improved market conditions mean it will lift the dealing suspension on the fund and its feeder vehicles from noon on October 17.
"We now believe the commercial real estate market has stabilised and that the adequate level of liquidity achieved will allow the suspension to be lifted," the company said.
Last week Henderson Global Investors announced plans to reopen its UK Property Paif and feeder fund in mid-October following “good progress in asset sales", a week after Columbia Threadneedle did the same. The only providers yet to announce a reopening date are Aviva Investors, who said in August that its UK property fund may not resume trading until 2017, and M&G.
