Standard Life says UK property fund liquidity ok

Fri Jan 18, 2008 4:40am EST
 
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LONDON, Jan 18 (Reuters) - UK insurer Standard Life (SL.L) said on Friday it had not prevented retail investors from withdrawing cash from its flagship UK property fund, as liquidity in the fund remains sufficient.

"The situation is the same as in December. There's sufficient liquidity and there are no queues in place," to exit the firm's pooled pension property fund, said a Standard Life spokesman.

The fund had 3.2 billion pounds ($6.28 billion) in assets, according to quarterly figures from the Association of Real Estate Funds. Insurance rival Aegon (AEGN.AS) said on Friday that it was invoking time clauses preventing investors from taking out their money from its 2 billion pound Scottish Equitable property fund, following a surge in demand from people wishing to withdraw cash. (Reporting by Simon Challis; Editing by Erica Billingham)

 

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