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Aviva Investors says property fund suspension likely to last to 2017

Reuters - UK Focus

LONDON, Aug 10 (Reuters) - Aviva Investors' UK commercial property fund is likely to remain suspended until next year, the fund management arm of British insurer Aviva (Other OTC: AIVAF - news) said on Wednesday.

The Property Trust was one of several funds suspended in July, following hefty withdrawals by retail investors in the aftermath of Britain's vote to leave the European Union.

"Property sales may be more difficult to execute in the current environment due to market uncertainty," the firm said in a note to investors published on its website.

"In disposing of properties, we need to ensure we act in the best interests of all investors. The suspension is therefore likely to be in place for a period of at least six to eight months from the date of suspension." (Reporting by Carolyn Cohn; editing by Simon Jessop)