Scottish Equitable Threadneedle UK Property Trust re-opens to redemptions (payments out)

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On Monday 26 September 2016, Colombia Threadneedle resumed trading in the Colombia Threadneedle UK Property Trust, the underlying fund of the Scottish Equitable Threadneedle UK Property Trust and Scottish Equitable Threadneedle UK Property Trust (ARC).

As a result, at 12:00pm on Monday 26 September, we resumed trading in both the Scottish Equitable Threadneedle UK Property Trust and Scottish Equitable Threadneedle UK Property Trust (ARC).

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

Why did the fund suspend trading?

Please see our previous update regarding this here.

Why has the fund resumed trading?

The UK commercial property market has recently shown signs of stabilising. The fund managers have also sold a number of properties raising cash levels within the portfolio, enabling the fund to resume trading.

What this means for investors

The funds have re-opened which means investors can now make payments into and out of the Scottish Equitable Threadneedle UK Property Trust and Scottish Equitable Threadneedle UK Property Trust (ARC).

Any requests for redemptions from the funds made after 26 September 2016 will be fulfilled.

Regular payments

If you make regular payments into the Scottish Equitable Threadneedle UK Property Trust pension fund, these will continue as normal 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 Scottish Equitable Threadneedle UK Property Trust (ARC) fund if you wish to resume these payments. You or your adviser can do this by accessing your online account.

Investors that 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 Scottish Equitable Threadneedle UK Property Trust or Scottish Equitable Threadneedle UK Property Trust (ARC).

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

Model portfolios

Where the Scottish Equitable Threadneedle UK Property Trust (ARC) fund 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 Threadneedle 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.