Aegon confirms first distribution of 44% of assets as shutters come down on property fund

Due on 12 August

Investors in the closed Aegon Property Income vehicle and its feeder fund will receive their first pro rata distribution on 12 August 2021, representing 44% of holdings.

According to the fund's latest factsheet (30 June), this payment represents £168m of the total £381m in assets under management. The remaining 56% of assets will continue to be sold and investors will receive further distributions on "at least a quarterly basis… if enough properties have been sold" from 9 August onwards, the date of the fund's closure. Suspended property funds collect £40m in management fees over 2020 As of 31 July, 32 properties remain unsold in the fund. Aegon Asset Management will continue to receive a reduced annual management charge of 0.6% throughout the c...