Notice of reopening for dealing
Important information about the CT UK Property Authorised Investment Fund (CT UK PAIF) and its Feeder Fund, CT UK Property Authorised Trust (Feeder Fund) (“The Fund”)
Columbia Threadneedle will lift the temporary dealing suspension on the CT UK Property Authorised Investment Fund (CT UK PAIF) and its feeder fund, CT UK Property Authorised Trust with effect from 12.01 on 28 February 2023. This means that the first valuation for dealing will be Wednesday 1 March 2023.
The CT UK PAIF temporarily suspended dealing on 10 October 2022 following a significant increase in redemption requests which led to cash in the Fund reducing to a level where future redemption requests would not be able to be met until an orderly sale of assets had been completed. Since October an asset sales process has taken place, raising cash in the fund to a level where we believe redemption requests can be met.
This action has been taken with the agreement of Citi UK Trustee & Fiduciary Services, the depositary for both funds, and the FCA has been notified.
The earlier decision to suspend dealing in the CT UK PAIF was made with the aim of ensuring the fair treatment of all our investors whether they were transacting now or investing for the longer term. This decision was reviewed regularly by the ACD* Board. We appreciate that the action may have caused some inconvenience for our clients and we appreciate their ongoing support.
The CT UK PAIF and its Feeder Fund invest in physical UK commercial property such as warehouses, offices and retail around the UK. Columbia Threadneedle continues to believe real estate should form a part of a diversified and balanced portfolio for a long-term investor.
*Authorised Corporate Director (Threadneedle Investment Services Limited)
