Standard Life Investments has said it intends to lift the suspension of trading in its £2.5bn UK Real Estate PAIF sometime in the fourth quarter.
The group's head of real estate David Paine said this morning he was hoping for an "orderly reopening" after it suspended trading on 4 July as it was "unable to meet redemption requests".
Paine said: "We are moving towards an orderly reopening. It would be our intention based on the progress we are making to re-open in the fourth quarter. It is something we are focusing on. We are looking to assess the level of potential redemptions that might follow a re-opening.
"We will give our investors advanced notice when we have a specific date."
Conditions appear to be starting to improve for the troubled property sector after investors fled the asset class in the wake of the Brexit vote, on fears asset prices would plummet in the volatility.
Columbia Threadneedle announced last week it is set to lift the trading suspension on its UK Property Authorised Investment Fund (PAIF) and its feeder fund, the UK Property Authorised Trust, on 26 September.
M&G said last week it hopes to re-open its suspended £4.4bn Property Portfolio next month, while yesterday Henderson announced it would lift the suspension of trading on 14 October on its £3.4bn UK Property PAIF and associated feeder funds following its most recent dealing review.
On 13 May SLI changed the long-term pricing basis of its Standard Life Investments UK Real Estate PAIF, run by Nigel Chapman, managed by George Shaw, from offer to mid pricing as it said as net flows turn from "broadly neutral to slightly negative".
However, a number of property funds remain suspended following the EU referendum, with Aviva saying earlier this month it expects the suspension on its Property Trust to last for at least six to eight months.
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