Aegon has switched the pricing of the £1bn Aegon Scottish Equitable Property fund from a cancellation to a creation basis to reflect recent positive inflows.
It says the move has resulted in an instant fund price increase of about 7%. The fund moved from a creation to a cancellation price basis in August 2007 because net redemptions exceeded new money invested. "This could be an indication of a wider trend of positive cash flows into the commercial property sector and suggests that investors' optimism has returned," Aegon head of investment marketing Mark Pearson says. A rush to withdraw money from its commercial property funds forced Scottish Equitable to introduce delays of up to 12 months for its customers in January 2008. The del...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes