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Canada Life reopens suspended UK property fund

Published 2020-10-08, 04:42 a/m
© Reuters.
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LONDON, Oct 8 (Reuters) - Canada Life has reopened its suspended 341 million pound ($441.94 million) UK property fund as of Thursday, a spokesperson said by email.

"Following the latest valuation of the LF CanLife UK Property ACS, we can confirm we are able to remove the 185-day notice period for trades, which effectively means the funds have re-opened from 8 October 2020," the firm said in an emailed statement.

Much of Britain's UK property fund market was frozen for six months as it was not possible to give an accurate valuation of the funds' assets.

But funds such as those managed by BlackRock (NYSE:BLK) BLK.N and Legal and General LGEN.L have started to reopen after surveyors lifted a "material uncertainty" clause last month.

($1 = 0.7716 pounds)

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