Aegon Property Income set for closure after 13-month suspension

Aegon Asset Management, which suspended its property funds amid the onset of the coronavirus pandemic alongside most bricks-and-mortar peers, confirmed today (23 June) that in order to "ensure all investors are treated fairly" it is now taking steps to close the vehicles. Earlier in June, Aegon Property Income fund had built up a cash level of 31.6%. It had previously been hoped that the fund could reopen in the second quarter of 2021, however Aegon said it has "proved increasingly challenging to raise sufficient liquidity whilst also ensuring that continuing investors have a represen...