The UK property market, in-line with the condition of property markets in developed countries has been understandably challenging. The economic shutdown and social distancing orders have made it is near impossible for buyers and sellers to engage, and no clear indications have been provided by the UK Government on when distancing measures may be eased or lifted.
SIP Property Fund’s valuer, Jones Lang Lasalle (JLL), have said they are currently unable to accurately or fairly value properties within the fund. The two pooled investments held by SIP Property Fund, Aberdeen Standard Life and Henderson have suspended redemptions for similar reasons.
Our expectations is that the property market will remain subdued due to the Covid-19 crisis and therefore the SIP Property Fund remains suspended until the value of the underlying holdings can be reliably calculated.
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