The UK property market continues to be subdued with social distancing orders continuing to make the valuation and sales processes difficult.
SIP Property Fund’s valuer, Jones Lang Lasalle (JLL) have said they are still unable to accurately or fairly value properties within the fund. The two pooled investments held by SIP Property Fund, Aberdeen Standard Life and Henderson continue to suspend redemptions for the same valuation issue.
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. With further direction from the government expected in July, we will of course update the situation if this changes.