Aviva Investors today announced its European Property Fund has re-opened for dealing.
Aviva Investors today announced its European Property Fund has re-opened for dealing. The fund temporarily suspended dealing on 4 November 2008 due to lack of immediate liquidity and to safeguard investor interests in challenging market conditions.
Ben Stirling, managing director continental Europe real estate at Aviva Investors, said: “We’ve worked hard in a difficult real estate market to bring the fund back to a good liquidity position and are delighted the fund can return to normal trading.
“Since suspending dealing in the fund late last year we have carefully managed liquidity levels and the sale of properties in a measured manner to get the best possible price.
“The outlook for the Fund is increasingly positive. Over the past few months there has been a clear improvement in key economic indicators for the Eurozone and we now believe the worst of the valuation falls are behind us.“
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For more information contact:
Angela Warburton
Aviva Investors
Corporate Affairs
Telephone: +44 (0)20 7809 8618
E-mail: angela.warburton@avivainvestors.com
Allister Fowler
Aviva Investors
Corporate Affairs
Telephone: +44 (0)20 7809 8313
E-mail: allister.fowler@avivainvestors.com
Notes to editors:
Aviva Investors
Aviva Investors is the global asset management business of Aviva plc, the world’s fifth-largest insurance group. The company delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 15 countries in Asia Pacific, Europe, North America and the United Kingdom.
Aviva plc
Aviva is the world’s fifth largest insurance group*, serving 50 million customers across Europe, North America and Asia.
Aviva’s principal business activities are long-term savings, fund management and general insurance, with worldwide total sales of £24.4 billion for the six months to 30 June 2009 and funds under management of £352 billion at 30 June 2009, of which Aviva Investors manages £222 billion.
* Based on gross worldwide premiums for the year ended 31 December 2008