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Suspension period lifted on the Standard Life Property fund

Earlier this year, Aberdeen Standard Investments introduced a temporary suspension period (also known as a delay period) on two property funds. This was due to the impact that COVID-19 was having on the property market.

Suspension period on Standard Life Property Fund being lifted
As more certainty has returned to property valuations, the suspension period on the Standard Life Property Fund will be lifted on 16 November 2020 and monies will be permitted into and out of this fund on or after this date.

Suspension period on Standard Life Global Real Estate Fund remains
The temporary suspension period remains on the Standard Life Global Real Estate Fund. This is because this fund’s Standing Independent Valuer continues to cite material valuation uncertainty at 19 October 2020, therefore Aberdeen Standard Investments (ASI) are still unable to produce a price for the fund which they can say with any confidence reflects the true market value of the assets. 

We will keep you informed on any further update we receive from Aberdeen Standard Investments in relation to the lifting of the suspension period for this fund.
 
In relation to the Standard Life Property Fund, we will be writing to customers this week that have:
  • sent in a request to transact on this fund since the suspension was put in place. 
  • had their regular premiums redirected during the suspension. 
We will be asking them to talk to you regarding their options.  

If your client decides they do not want to go ahead with their previous request or decides they do not want their future regular premiums redirected back into the property fund, they need to inform us of this by the 12 November. For more information see our property section on brokerzone which will be updated when we receive further information and the property suspension FAQ.

If you have any questions please contact your Business Manager.
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Standard Life International dac is regulated by the Central Bank of Ireland. Standard Life International dac is a designated activity company limited by shares and registered in Dublin, Ireland (408507) at 90 St Stephen’s Green, Dublin 2. Standard Life International dac is part of the Phoenix Group and uses the Standard Life brand under licence from the Standard Life Aberdeen Group.

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