Aviva Investors moves Property trust to bid pricing after outflows

Aviva Investors has moved its Property trust from offer to bid pricing after experiencing a period of net outflows for the product.

The company said recent redemptions meant it has "not been possible to match sellers coming out with buyers going in", leading to the shift to bid pricing. The change comes shortly after the departure of longstanding manager Philip Nell, who was replaced by Mike Luscombe in May. As of 31 May the fund's assets stood at just under £2bn, in line with levels seen in recent months, according to FE Trustnet figures. Figures for June are not yet available. Aviva Investors said in a statement: "On Monday 13 July 2015 a decision was taken by Aviva Investors UK Fund Services Limited to switc...