Standard Life and Aviva limit property fund redemptions

Six unit linked life and pension products are affected, with customers wanting to switch, transfer or surrender their investments having to wait up to six months for their requests. The products affected on the pensions side will be Pooled Property fund, Property One fund, Pension Managed Property fund and Individual Property One fund. On the life side will be Property fund and Property Investment Life fund. Standard cites the difficult market for commercial property, making sales harder and reducing profits. A statement from the company reads: "We will continue to accept new business...