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Aberdeen lifts gating on troubled property fund

UK fund manager is the first to end the suspension of trading in its commercial property funds

Aberdeen CEO Martin Gilbert
Aberdeen CEO Martin Gilbert

Aberdeen Asset Management has lifted the suspension of the open-ended property fund it temporarily closed on July 5 after imposing a 17% discount on redemptions.

The fund manager was one of several investment houses operating large UK commercial property funds that halted redemptions in the week of July 4, as investor confidence in the sector plummeted following the vote for the country to leave the European Union.

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