Aviva Investors has re-opened its European Property Fund for dealing, having been closed for more than a year originally due to liquidity issues.
The fund temporarily suspended dealing on 4 November 2008 citing a lack of immediate liquidity and a need to safeguard investor interests in challenging market conditions. Aviva has, last month, already lifted withdrawal restrictions on its unit-linked UK Property Fund.
Ben Stirling, managing director Continental Europe Real Estate at Aviva Investors, said: “We’ve worked hard in a difficult real estate market to bring the fund back to a good liquidity position and are delighted the fund can return to normal trading.
Increasing liquidity
“Since suspending dealing in the fund late last year we have carefully managed liquidity levels and the sale of properties in a measured manner to get the best possible price. The outlook for the fund is increasingly positive. Over the past few months there has been a clear improvement in key economic indicators for the Eurozone and we now believe the worst of the valuation falls are behind us.”
The past few months has seen a revival in the appetite for property investment across the globe. According to the IMA, the Commercial Property fund sector was the best selling retail category in October, achieving its highest monthly sales since May 2007.
