The decision was announced in Brandeaux’s latest update to investors posted earlier today, and which explained it had taken the decision in order to “give as much flexibility as possible” around the various options available to it.
Brandeaux also acknowledged the position in which advisers are in when having to explain the situation to clients.
It said: “The directors are acutely aware of the difficulties IFAs face in dealing with their clients invested in the Student Accommodation Funds and the inability to give any precise indication of timing on the creation of liquidity.
“The Student Accommodation Funds and their advisers are working tirelessly to reach the best possible solution for investors and a further statement will be made as and when there is further information of significance to report.”
Brandeaux suspended its six-strong fund range in July last year, citing problems with market liquidity.
It is currently in the process of winding down all its vehicles and confirmed in the same investor update released today that it had made a number of sales of properties previously held in its Ground Rent Income and Ground Rent Portfolio funds.
It said the proceeds of these sales, worth around £167m, would be distributed to the fund’s shareholders on a compulsory pro rata basis.
