Aegon shuts UK property funds

ICG Longbow Senior Secured UK Property Debt Investments

23/06/2021 11:09

LONDON, June 23 (Reuters) - Aegon Asset Management has
closed its UK Property Income and Property Income feeder funds
after failing to raise sufficient cash to meet redemption
requests, it said on Wednesday.
    The funds were suspended last year, in line with much of the
UK property fund market, due to uncertainty over market
valuations as a result of the COVID-19 pandemic.
    "It has proved increasingly challenging to raise sufficient
liquidity whilst also ensuring that continuing investors have a
representative and well-balanced portfolio," the fund manager
said in a statement. 
    "In order to ensure all investors are treated fairly, Aegon
AM has decided to take steps to close the funds and return the
proceeds to investors as quickly as possible, in a fair and
orderly manner."

 (Reporting by Carolyn Cohn, editing by Karin Strohecker)
 ((carolyn.cohn@thomsonreuters.com; 44 207 513 4391;))