Aviva Investors has announced that its £1.5bn open-ended Property Trust will re-open on 15 December.
The fund was suspended on 5 July after a rush of redemption requests following the EU referendum.
The fund sold 11 assets for a combined £212m between the EU referendum and 17 November in an effort to raise liquidity.
Ed Casal, chief executive of Aviva Investors real estate, said: “We are pleased to announce the resumption of dealing in the Aviva Investors Property Trust and appreciate the patience of our investors while dealing was temporarily suspended.
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“We have undertaken an orderly sales programme to rebuild liquidity. This has enabled us to obtain the best value for the asset sales while continuing to actively manage the remaining properties in the Trust.”
The fund was one of seven to suspend trading in July and was expected to be closed until 2017.
Aviva also announced that Mike Luscombe, co-fund manager of the Property Trust, will retire at the end of January after 28 years at Aviva Investors.
Ed Casal said: “I would also like to pay tribute to Mike Luscombe, co-manager of AIPT, following his decision to retire after 28 years with Aviva Investors. Mike has made a valuable contribution to the business and he goes with our thanks and best wishes for his retirement.”
Andrew Hook will continue on as sole fund manager of the Property Trust.
Aviva’s assets by region and type (as of August 2016)
London 21.6%
South East 20%
East & South West 9.2%
Midlands & Wales 17.8%
North & Scotland 26.5%
Property shares 0.1%
Cash 4.8%
Aviva’s top 10 holdings (as of August 2016)
● 20 Soho Square, W1
● Omni leisure centre, Edinburgh
● Lombardy retail park, Hayes
● Guildhall shopping centre, Exeter
● Colmore Gate, Birmingham
● Tesco, Kettering
● The Corn Exchange, Manchester
● Abacus House, EC2
● Collegelands, Glasgow
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