Aegon imposes moratorium on Scottish Equitable property fund

Aegon Scottish Equitable has suspended trading on the its Scottish Equitable Property fund, Select Re...

Aegon Scottish Equitable has suspended trading on the its Scottish Equitable Property fund, Select Reserve and Select Distribution funds for a maximum of 12 months in a move to halt redemptions on the vehicles. The group said it had imposed the notice period to protect investors and manage the fund in their long-term interests. The £2bn property fund, managed by Morley, is one of many property vehicles hit hard by a slew of withdrawals since the summer. In a statement, Aegon said the credit crunch, rising interest rates and the spectre of recession have all affected the UK property mar...