The Aegon Property Income and Property Income Feeder funds are set to close permanently, with asset manager unable to raise the required liquidity to meet redemption requests while keeping the vehicles viable after a 13-month suspension.
Aegon Asset Management, which suspended its property funds amid the onset of the coronavirus pandemic alongside most bricks-and-mortar peers, confirmed today (23 June) that in order to "ensure all investors are treated fairly" it is now taking steps to close the vehicles. Earlier in June, Aegon Property Income fund had built up a cash level of 31.6%. Suspended property funds collect £40m in management fees over 2020 It had previously been hoped that the fund could reopen in the second quarter of 2021, however Aegon said it has "proved increasingly challenging to raise sufficient li...
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