Henderson Global Investors plans to reopen the UK property fund it suspended after Britain's vote to leave the European Union, making it the fourth asset manager to lift suspensions imposed in the wake of the surprise result.
The Henderson UK Property PAIF and its Feeder Fund was one of several UK retail funds suspended to control redemptions by investors who wanted to withdraw money due to fears commercial property prices would fall after the referendum.
Henderson said on Monday that clients could place redemption requests from Sept. 21 as it had established a liquidity buffer by selling properties since the vote, with a majority selling for more than their valuations at the end of 2015.
"Good progress in asset sales has enabled re-establishment of a liquidity buffer while maintaining a high quality," Henderson said in a statement, adding that it aimed to reopen the fund on Oct. 14.
Aberdeen Asset Management, Columbia Threadneedle and Canada Life have previously lifted suspensions on their UK retail property funds, while Aviva Investors, M&G and Standard Life are yet to reopen.
(Reporting by Esha Vaish in Bengaluru; editing by David Clarke)