BMO positions UK Property for December reopening as ASI lifts Global Real Estate suspension

'Significant risks' remain

James Baxter-Derrington
clock • 2 min read

BMO Global Asset Management (BMO GAM) is set to reopen its UK Property Fund by 14 December, while Aberdeen Standard Investments (ASI) seeks to lift its Global Real Estate fund’s suspension on 16 November.

In a statement, BMO GAM said it anticipated achieving its target level of liquidity by 14 December, which would allow the firm to reopen the BMO UK Property fund and its feeder. However it also caveated that the UK property market could remain "significantly impacted" by Covid-19 and Brexit, which "may affect the ability to realise liquidity in the manner currently planned". The net asset value (NAV) price for the funds has swung from ‘Offer' to ‘Bid', reflecting the fund managers' attempts to continue increasing liquidity through identified asset sales. This will result in a reduc...

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