Norwich Union moves back to fortnightly valuations on property funds

Norwich Union is reverting to fortnightly valuations on its property funds. The group said the val...

Norwich Union is reverting to fortnightly valuations on its property funds. The group said the value of the funds’ assets had been falling and more frequent valuations would ensure the unit price fairly reflects the value of the underlying property portfolio. It also means investors who redeem do not take more than their fair share of assets away from those who remain invested, the group said. The affected funds are the £2.2bn Norwich Property Trust, Norwich Property Investment fund and Norwich Union Linked Life Property fund. The vehicles initially used monthly valuations but in Dec...