Aviva returns almost half of shuttered property funds' NAVs in first pay-out

46.1% liquidation of assets

Aviva Investors returned £169m to investors in the now-closed UK Property fund on 6 August, following the liquidation of 46.1% of its assets.

Meanwhile, the firm will return 45.7% of the net asset value from the inc and acc share classes of its UK Property Feeder funds. This comes following the funds' closures in May this year, after more than a year of material uncertainty over property valuations. According to an Aviva Investors spokesperson at the time, this led to an "increasingly challenging" environment in which to generate positive returns "while also providing the necessary liquidity to re-open the funds". Suspended property funds collect £40m in management fees over 2020 The pay-out percentage calculated by Aviv...