End of suspension - Janus Henderson UK Property PAIF
The trading suspension will be lifted on 24 February 2021. From this date subscriptions and redemptions for the fund will once again be accepted.
Impacts on
this defined fund range product
Impacts on
open architecture products, including:
- PIMS
- Choice
- Select
Janus Henderson Investors has announced that the trading suspension on their UK Property PAIF fund will be lifted on 24 February 2021.
Dealing in the funds was temporarily suspended on 16 March 2020 in response to CBRE (the appointed independent valuer of the Janus Henderson UK Property PAIF) advising that they had material uncertainty around the valuation of the UK properties across the market, due to the COVID-19 pandemic. The dealing suspension has allowed CBRE to become more certain about the UK property market valuations. It has additionally allowed for an orderly programme of property sales to raise the portfolio’s cash to a level that is sufficient to cover known client redemptions, while leaving sufficient ongoing cash to meet future redemptions post reopening.
The decision to resume dealing has been taken in agreement with the Funds’ Depositary/Trustee, NatWest Trustee and Depositary Services Limited. The Financial Conduct Authority (FCA) has also been informed. Janus Henderson Investors will continue to monitor the fund and the market in the lead up to the planned resumption of dealing. Should anything materially change, it will issue further updates.
The move to reopen means that from 24 February 2021 Janus Henderson Investors will be able to accept subscription and redemption instructions again for the fund.