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Aberdeen extends trading suspension for UK property funds

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Aberdeen extends trading suspension for UK property funds

Aberdeen AssetManagement Plc extended the temporary of its Aberdeen U.K. PropertyFund and Aberdeen U.K. Property Feeder Unit Trust until July 11 in response toinvestor requests.

Aberdeen said the move will give investors more time toconsider their options, and ensures that all clients are treated fairly. Theextension means orders for subscriptions and redemptions in the funds placedbefore noon July 6 will now be processed July 11 at noon at a diluted price.Orders placed between noon July 6 and noon July 11 will not be accepted.

Aberdeen decided to suspend trading in the Aberdeen U.K.Property Fund for 24 hours on July 6 and cut its value by 17%, Reuters reportedJuly 7. Market worries following Brexit initially prompted fellow fund managerStandard Life to suspend trading in a commercial real estate fund July 4.