SIP Property Fund Update
11 January 2017
It has now been approximately 4 months since we implemented a deferral period for making withdrawals from the SIP property fund. We can confirm that preparations are being made to allow withdrawals from the fund to commence.
The deferral period has successfully enabled the fund manager to protect the interests of the fund’s investors. The cash reserve of the fund used to meet withdrawal requests has now been replenished, and the uncertainty in the commercial property market that resulted from the EU Referendum vote in June 2016 has receded.
Investors in the SIP Property Fund will receive a letter this month notifying them of the date at which the withdrawals deferral period will come to end. The letter will also confirm the start of the “notification period” during which orders to withdraw funds may be placed. All redemption and switch orders received during this period will all be carried out on the day when the deferral period comes to an end.
We will continue to review the position and provide appropriate updates. Should you have any questions please speak to your Financial Adviser or contact our Client Services team on 0117 975 2355.