Aberdeen Asset Management has unfrozen its property funds after a week of suspending trading of shares.
The £3.2bn property fund has already put up for sale its largest UK asset – 355 Oxford Street, W1 – for £145m to help find money for investors wanting to exit the fund.
It has also revalued the fund, which invests in 79 properties, by 17%.
Aberdeen was one of seven funds which suspended trading last week after the vote for Brexit.
From Monday: Aberdeen extends suspension of property funds
From Monday: Aberdeen to sell its largest UK property to pay redemptions
Chief executive Martin Gilbert said: “Following the lifting of the week-long suspension, I am pleased that investors will now be able to trade shares in the funds. 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.
“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.”
