Scot Widows property fund to stay closed

The Scottish Widows unit-linked property fund, which closed to new investment in April, is unlikely ...

The Scottish Widows unit-linked property fund, which closed to new investment in April, is unlikely to re-open before next year. Big inflows into the fund, available through life assurance and pension wrappers, meant it built up a 35% cash position earlier this year, which has still not been reduced. In April, Scottish Widows said it could not find appropriate property in terms of value and size in which to invest. Siobhan MacDonald, national investment development manager at Scottish Widows, said the property team was likely to invest some money during October and November, which would ...