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Aberdeen Standard suspends trading in UK property funds

Reuters
·1-min read

LONDON (Reuters) - Aberdeen Standard Investments said on Wednesday it had suspended trading in two UK property funds after volatile markets made it tough to value their assets, joining a growing list of peers to do so.

Dealing has been suspended in the 1.7 billion pounds Standard Life Investments UK Real Estate Fund and the 1.1 billion pounds Aberdeen UK Property Fund, it said in a statement.

"Markets around the world have experienced huge disruption as COVID-19 spreads and trading in the UK property market is being severely impacted," it said.

"As a result the Funds’ Independent Valuers have informed us it is not currently possible to provide accurate and reliable valuations for certain assets, including the properties held in the Funds."

The suspensions follow similar action this week by Aviva Investors, Kames Capital and Janus Henderson.

(Reporting by Simon Jessop, Editing by Lawrence White)