Aviva lifts Property fund restrictions

Aviva today lifts withdrawal restrictions on its unit-linked UK Property fund.

The insurer placed restrictions on surrenders, switches and transfers from its Property fund (life and pensions) on 22 January as redemptions increased through the downturn of the UK commercial property market between 2007 and 2009. Restrictions applied to investors in life bonds and pensions, and requests to move money out of the fund could be deferred for up to a maximum of six months. Customers will now be able to surrender, switch or transfer investments from the fund in line with normal business practice. David Barral, marketing director at Aviva, says: "Aviva introduced defer...