Important note on investments in property funds – Final Update

All previously suspended externally managed property funds used by ReAssure are now unsuspended and units in these funds can be bought or sold as usual. This means that there are no further restrictions on ReAssure policyholders because of the externally managed property fund suspensions.

Internally managed property funds

Most of our policyholders who are invested in property funds do so using property funds which are directly managed by ReAssure (internally managed property funds).

Whilst the value of ReAssure’s internally managed property funds initially fell in value because of this market unrest, they have sufficient liquid assets to continue as normal.

We will continue to monitor the situation but we don’t expect this situation to change, but we’ll update the information on our website if it does.

Externally managed property funds

Some ReAssure customers also use ReAssure policies to access property funds that are managed by external fund managers, independently of ReAssure. Managers of three external property funds temporarily suspended transactions in them which may have affected some customers.

The external managers of all of these funds have now lifted their suspensions and allowed transactions to start again. This means that there are no further restrictions on these property funds.

The full list of ReAssure funds that were impacted by the property funds suspensions are included here:

Suspended from 7 July 2016 until 16 December 2016 (note: normal servicing resumed on 19 December 2016)

• AL Aviva Investors Property GQSB Life Accumulator Series 14
• AL Aviva Investors Property PPB Pension Accumulator Series 14
• AL Aviva Investors Property PPB1 Pension Accumulator Series 14
• AL Aviva Investors Property PPBR Pension Accumulator Series 14
• AL Aviva Investors Property GWEB Life Accumulator Series 14
• AL Aviva Investors Property TGSB Pen Pension Accumulator Series 14
• Aviva Investors Property Pension Initial Series 01
• Aviva Investors Property Pension Standard Series 01
• Property Pension Accumulator Series 01
• Property Pension Accumulator Series 04
• Property Pension Accumulator Series 05

Suspended from 7 July 2016 until 4 November 2016 (normal servicing resumed on 7 November 2016)

• AL M&G Property GQSB Life Accumulator Series 60
• AL M&G Property PPB Pension Accumulator Series 60
• AL M&G Property PPB1 Pension Accumulator Series 60
• AL M&G Property PPBR Pension Accumulator Series 60
• AL M&G Property GWEB Life Accumulator Series 60
• AL M&G Property TGSB Pen Pension Accumulator Series 60
• M&G Property Pension Initial Series 01
• M&G Property Pension Standard Series 01

Suspended from 7 July 2016 until 13 July 2016 (normal servicing resumed on 14 July 2016)

• AL SWIP Property GQSB Life Accumulator Series 80
• AL SWIP Property PPB Pension Accumulator Series 80
• AL SWIP Property PPB1 Pension Accumulator Series 80
• AL SWIP Property PPBR Pension Accumulator Series 80
• AL SWIP Property GWEB Life Accumulator Series 80
• AL SWIP Property TGSB Pen Pension Accumulator Series 80
• SWIP Property Pension Initial Series 01
• SWIP Property Pension Standard Series 01

For policies invested in the previously suspended property funds, valuations can now be provided as normal and policy transactions in the property funds can be processed as usual.

If you’ve received a valuation of your policy during the period a property fund was suspended, any values given may not have been completely accurate because property fund unit prices were indicative only. Now that the property fund suspensions have been lifted, all valuations will be correct in the future.

Important: You should speak with your Financial Adviser (FA) if you need advice based on your personal circumstances.  If you don’t have an FA, you can find one in your area at unbiased.co.uk or call 0800 020 9430.