Threadneedle returns £1.2bn Property fund to offer pricing

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Threadneedle returns £1.2bn Property fund to offer pricing

Columbia Threadneedle has removed the final punitive measure on its £1.2bn UK Property fund, moving back to the default 'offer' pricing.

The fund, one of five to gate investors last summer, reopened in September and has now shifted its pricing basis from bid to offer, adding a 5 per cent uplift in valuation of investor holdings.

Columbia Threadneedle said a "continued trend" of net inflows into the fund had enabled it to act, a move which reverses the shift to 'bid' pricing implemented last May.

Property managing director Don Jordison, added: "The change reflects investor recognition of the virtues and strength of property as an asset class."

The latest sign of a return to normality for property investors comes after all of the suspended funds reopened to investors in the final quarter of 2016. Aviva Investors - which had predicted it would remain closed until March this year - was the last to do so on December 15.

But other open-ended property funds have yet to fully reverse actions taken last summer. The other fund groups which gated investors - Aviva Investors, Henderson, M&G and Standard Life Investments - all still operate on bid pricing.

Property FundBid/OfferSuspended Trading?
Aberdeen UK PropertyBidNo
Aviva Investment Property TrustBidYes - Opened on 15/12/2016
F&C UK PropertyOfferNo
Henderson UK Property Trust PAIFBidYes - Opened on14/10/2016
Kames PropertyBidNo
M&G Property Portfolio PAIFBidYes - Opened on 04/11/2016
Standard Life UK Real EstateBidYes - Opened on 17/10/2016
Legal & General UK PropertyTrust PAIFOfferNo
Threadneedle UK Property Trust PAIFOfferYes - Opened on 26/09/2016