Aviva Investors UK Property Fund and associated Feeder Funds

The Aviva Investors UK Property Fund, the Aviva Investors UK Property Feeder Inc Fund and the Aviva Investors UK Property Feeder Acc Fund (the “Funds”) - temporary suspension of dealing

The Aviva Investors UK Property Fund owns a range of UK commercial properties including offices, high street shops, shopping centres, out-of-town retail parks, distribution warehouses and leisure facilities.  It can also hold some property company shares and cash.  To calculate the daily share price of the Funds, those properties are regularly valued by a Standing Independent Valuer – in our case Knight Frank LLP – using recognised professional valuation standards.

The Covid-19 virus has impacted the UK property market and made it difficult to value the property owned by the Funds with the same degree of certainty as would otherwise be the case. As a result, the Standing Independent Valuer has advised us that there is currently “material valuation uncertainty” for all direct property assets within the portfolio.

This challenges our ability to calculate the price used to buy and sell shares/units in the Funds, and we believe there is a material risk that investors may buy and sell shares/units at a price which does not fairly reflect the value of those shares/units. If we allow dealing to continue some investors may be advantaged at the expense of others.

Consequently, Aviva Investors UK Fund Services Limited has taken the decision to temporarily suspend all dealing in the Funds with effect from the 12 noon valuation point on 18 March 2020. This means that any instructions to dealing in the funds which are received after 12 noon on 17th March will not be accepted. The decision has been made to safeguard the interests of investors and has been agreed with the depositary of the Funds, J.P. Morgan Europe Limited.

Suspension of dealing means we cannot accept instructions to buy, sell, transfer, switch or exchange shares/units in the Funds until further notice.

We are also aware that you may have additional questions, so we have prepared a Questions and Answers document that you may find helpful.

 

See contact details below if you have any questions regarding the temporary suspension of the Funds or would like further information.

 

Contact us

Private investors

Contact our Customer Service Team on 0800 051 2003*. Alternatively contact your Financial Adviser who will be able to discuss your individual investment needs.

Professional investors (advisers and discretionary wealth managers)

Phone: 020 7809 6521*

* Calls are free from UK landlines and mobiles. You can call us 8:30am – 5:30pm Monday to Friday. Calls may be recorded for training and monitoring purposes and to comply with applicable law and regulations.

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