Standard Life lifts redemptions queue as property sector prospects improve

Improved conditions allow Standard Life to lift redemptions queue it has had in place since January this year

Standard Life has lifted the queuing system for customers wishing to surrender, transfer or switch money out of the company’s UK unit-linked life and pension property funds. The company introduced the queue in January 2009 to protect investors from forced selling of properties to meet redemption requests. Standard Life says conditions in commercial property have improved in recent months, with signs of confidence beginning to return to the market. The group also says a reduction in the number of requests to withdraw money from the funds means Standard Life no longer needs to sell p...