Property Select Portfolio re-opens to redemptions (payments out)

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On Friday 4 November, we resumed trading in the Property Select Portfolio and the Property Select Portfolio (ARC) funds.

This means that investors in these funds can now make payments into and out of the fund as before.

Why did the fund suspend trading?

Please see our previous update regarding this here.

Why has the fund resumed trading?

The Property Select Portfolio is currently made up of five property funds:

 Aegon Active Value Property
 Aegon Property
 Scottish Equitable L&G Property
 Scottish Equitable M&G Property Portfolio
 Scottish Equitable Threadneedle UK Property Trust

Two of the five funds listed above – the Scottish Equitable M&G Property Portfolio and the Scottish Equitable Threadneedle UK Property Trust - suspended trading following market uncertainty in the wake of the EU referendum. These funds have now resumed trading and as a result, the Property Select Portfolio has now also resumed trading.

What this means for investors

The fund has re-opened which means investors can now make payments into and out of the Property Select Portfolio as before.

Any requests for redemptions from the funds made after 4 November 2016 will be fulfilled. This means you can now switch in or out of the fund or cash in your investment in it.

Regular payments

During the suspension, regular premiums were applied as normal. This will continue now that the fund has resumed trading.Investors accessing the fund via Aegon Retirement Choices (ARC) will have had regular payments directed to the cash facility when the fund was suspended, unless they instructed us to do otherwise. You will need to instruct us to redirect regular payments into the Property Select Portfolio (ARC) if you wish to resume these payments. You or your adviser can do this by accessing your online account.

Investors who currently receive an income

Income should have continued at the same level as before where possible. However, this will have been taken from across the other funds held in your plan and not from any portion invested in the Property Select Portfolio or Property Select Portfolio (ARC).

Please contact us if you want to resume drawing income from this fund.

Model portfolios

Where the Property Select Portfolio (ARC) was used in a model portfolio via ARC, any allocation was removed during the fund suspension and reassigned to cash.

This will continue with any existing holdings in the fund being sold down at the next rebalancing point unless we receive alternative instructions.

We recommend that financial advisers and discretionary fund managers review their affected model portfolios as soon as possible.

Where can I find more information?

If you’d like more information, please speak to your financial adviser. If you don’t have a financial adviser, you can find one in your area by going to www.unbiased.co.uk

You can also view our property fund Q&A here.

The value of investments may go down as well as up. Investors may receive less than originally invested.