Aegon Property Income wind up records first quarter with no distribution

5.1% cash level

The closure of Aegon Property Income has slowed, with the fund failing to issue a quarterly distribution for the first time since it began winding down in August 2021.

According to a 30 September 2022 update, the fund has exchanged one asset for £9.5m and as of 27 September had three assets under offer for £21m. To date, £251m has been issued across five pro rata distributions, representing 66% of the net asset value on closure. UK property funds impose liquidity limits While the fund is not required to issue distributions at any set point, its Q&A document sets out an aim to make payments "on at least a quarterly basis". The remaining £118m in assets under management are currently held 94.9% in property and 5.1% in net current assets, compris...