The managers of the Aegon Property Income fund have sold the final three properties owned by the vehicle, marking the end of a more than two-year wind-up process.
According to an update from 23 October, the remaining assets have been sold, with shareholders set to receive their final distribution before the end of 2023, although an exact date has yet to be confirmed. St James's Place suspends property fund and temporarily reduces fees The final properties were a Birmingham site rented by ITV, a Preston Premier Inn and a luxury apartment building in London. The Birmingham site comprised 52.6% of total property assets in the fund, with the Premier Inn representing 40.8% and the London apartments rounding off the remaining 4.6%. While these ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes