Aviva to return almost half of shuttered property funds' NAVs in first pay-out

Meanwhile, the firm will return 45.7% of the net asset value from the inc and acc share classes of its UK Property Feeder funds. This comes following the funds' closures in May this year, after more than a year of material uncertainty over property valuations. According to an Aviva Investors spokesperson at the time, this led to an "increasingly challenging" environment in which to generate positive returns "while also providing the necessary liquidity to re-open the funds". The pay-out percentage calculated by Aviva was based on the funds' NAVs on 19 May - the date investors were fir...