Aberdeen allows trade to resume in £3.2 billion U.K. property fund
Aberdeen Asset Management PLC said Wednesday that investors may resume 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 companies that suspended commercial-property funds because of an increase in demand for redemptions in the wake of the U.K.'s Brexit vote to leave the European Union. Aberdeen had cut the value of the fund by 17%. "Investors should be aware that the price may be adjusted on a daily basis to reflect the funds' requirement to provide liquidity and the need to protect all investors," said Aberdeen's Chief Executive Martin Gilbert in a statement. "The market may take time to find its level but I have no doubt that property will continue to play an important part in investors' portfolios," he said.
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