Shareholders vote for wind-down as abrdn Property Income sells into 'valuation nadir'

18-36 month process

James Baxter-Derrington
clock • 1 min read

Shareholders in the abrdn Property Income trust have voted to wind down the real estate vehicle and retrieve their capital.

According to the results of the vehicle's general meeting on Tuesday (28 May), 96% of votes cast were in favour of the move, although only 34% of share capital was represented in the ballot. Stephen Bird exits abrdn as Jason Windsor takes interim CEO role Managers of the trust have predicted the realisation of the company's assets is likely to take 18-36 months, with sales predicted on an individual or group basis, rather than as a whole portfolio. Shares will remain tradable in the trust until a further vote takes place to appoint a liquidator and cancel the company's listing. ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week