Aviva reopens European Property fund

Aviva Investors has reopened its €249.5 European Property Sicav, more than 13 months after it suspended dealing in the fund.

The first European (ex-UK) direct commercial property fund to offer daily dealing to UK investors, the fund suspended on 4 November 2008 due to a lack of immediate liquidity and to safeguard existing client interests during the market downturn.

Aviva Investors managing director Continental Europe real estate Ben Stirling says since suspension, the group has carefully managed liquidity levels and the sale of properties in a measured manner to get the best possible price.

"We have worked hard in a difficult real estate market to bring the fund back to a good liquidity position and are delighted the fund can return to normal trading," he says.

"The outlook for the Fund is increasingly positive. Over the past few months there has been a clear improvement in key economic indicators for the eurozone and we now believe the worst of the valuation falls are behind us."