reducedthe dilution adjustment on its Aberdeen U.K. Property Fund and Aberdeen U.K.Property Feeder Unit Trust a few days after reopening the funds, resulting in a 7.5% uplift on theirdealing price.
A fair value adjustment of 7%continues to be applied to the underlying property portfolio.
Aberdeen said the reduction reflectsthe reduced volume of redemptions experienced over the past week, as well asthe fact that cash levels of the funds have been rebuilt following completionof a select number of property disposals. The dilution adjustment figure stilltakes into account the potential need to dispose of properties more quicklythan normal.
The company said it would expectto further lower or remove the dilution adjustment if future trading in thefunds continues to revert to more normal levels. On the other hand, thedilution adjustment could rise if redemptions from the funds increase and cashlevels are again depleted.