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Fund manager updates

Latest updates from fund managers can be found below.

Aviva Investors

Funds
OMW Aviva Investors Property Trust
OMW Prof Aviva Investors Property Trust
Aviva Investors Property Trust
Aviva Investors Property Trust –U

Website for updates:
https://uk.avivainvestors.com/gb/en/individual/aipt-suspension.html


Henderson

Funds
OMW Henderson UK Property PAIF Feeder
Henderson UK Property PAIF Feeder
Henderson UK Property PAIF Feeder –U
Henderson UK Property PAIF Feeder –WS

Website for updates:
https://www.henderson.com/ukpa/post/13071/temporary-suspension-of-dealing-in-henderson-uk-property-paif-and-feeder-fund


M&G

Funds
OMW M&G Feeder of Property Portfolio    
M&G Feeder of Property Portfolio
M&G Feeder of Property Portfolio –U

Website for updates:
http://www.mandg.co.uk/adviser/fund-centre/prices-and-yields/property-fund-prices/


Standard Life

Funds
OMW Standard Life UK Real Estate Accumulation Feeder
Standard Life UK Real Estate Income Feeder
Standard Life UK Real Estate Accumulation Feeder
Standard Life UK Real Estate Income Feeder –U
Standard Life UK Real Estate Accumulation Feeder –U
Standard Life UK Real Estate Income Feeder –U2
Standard Life UK Real Estate Accumulation Feeder –U2

Website for updates:
http://uk.standardlifeinvestments.com/ifa/literature/1562/inside.html


OMW Property

Funds
OMW Property
OMW EAB Property
OMW Prof Property

Website for updates:
www.omwealth.co.uk/propertyfunds


Threadneedle

Funds
OMW Threadneedle UK Property Authorised Trust (Feeder)
Threadneedle UK Property Authorised Trust (Feeder)
Threadneedle UK Property Authorised Trust (Feeder) –U

Website for updates:
http://www.columbiathreadneedle.co.uk/en/funds/uk-property-fund-changes/


Aberdeen

Funds not suspended but they were operating fair value pricing (FVP)* which was removed on Friday 30 September 2016.

Funds
OMW Aberdeen UK Property Feeder Unit Trust
Aberdeen UK Property Feeder Unit Trust
Aberdeen UK Property Feeder Unit Trust –U

Latest FVP update 30 September:

Property Asset reductions

             

 

Pre Brexit

28 June 2016

6 July 2016

21 July 2016

12 Aug 2016

02 Sep 2016

30 Sep 2016

Fair value adjustment

0%

5%

7%

7%

5%

3%

0%

Dilution adjustment

1%

1%

19%

9%

1.25%

1.25%

1.25%

Total Property Asset reductions

1%

6%

26%

16%

6.25%

4.25%

1.25%

 

 

 

 

 

 

 

 

Property allocation in Fund

 

 

82%

70.35%

68.62%

69.96%

71.16%

 

 

 

 

 

 

 

 

Reduction impact at Fund NAV level

 

 

21.3%

11.25%

4.29%

2.97%

0.89%

 

 

Split: Fair value

 5.7%

4.92%

3.43%

2.10%

0

 

 

Dilution

15.6%

6.33%

0.86%

0.87%

0.89%


L&G

Funds did not suspend. They operated fair value pricing (FVP)* which was removed on 7 September.

Funds
OMW L&G UK Property Feeder
L&G UK Property Feeder
L&G UK Property Feeder –U

27 June: Implemented FVP adjustments of -5%
6 July: FVP adjustment to -15%
15 July: FVP adjustment to -10%
27 July: FVP adjustment to -7.5%
7 September: Removed FVP


Kames

Funds not suspended but they were operating fair value pricing (FVP)* which was removed on Friday 30 September 2016.

Funds
Kames Property Income Feeder –U

28 June: Implemented FVP adjustment of -5%
7 July: FVP adjustment to -10%
16 August: FVP adjustment to -8.5%
15 September: FVP adjustment to -6.5%
30 September: FVP removed


*Fair value pricing (FVP) is when the manager of a fund substitutes the value of the fund for a value which, in their opinion, is fair and reasonable. It is applied when, in the fund manager’s opinion, the prices obtained for the fund are unreliable, no recent price exists, or the price does not reflect the fund manager’s best estimate of the value of the property.


Spectrum, Generation exposure to UK commercial property funds

As news emerges of redemptions being halted in a number of UK commercial property funds, Anthony Gillham, Multi-Asset Co-Investment Director at Old Mutual Global Investors, tells investors that they can take comfort in the knowledge that the Old Mutual Generation portfolios and Spectrum funds have maximum underweight exposure to the sector. Find out more.

UK property exposure: action to shield multi-asset investors

As UK property funds continue to struggle in the wake of the referendum on EU membership, Anthony Gillham, Multi-Asset Co-Investment Director at Old Mutual Global Investors, tells investors how we have shielded them by taking a prudent stance that has been driven by our experience of similar liquidity events to that which is underway in the asset class. Find out more.