PSPS Property - active Fund - temporary deferral of redemption requests

The PSPS Property – active Fund has applied a temporary deferral on redemption requests. This approach is similar that of many other UK property funds.

What does this mean?

Members cannot currently switch monies out of the PSPS Property - active Fund. The fund however, will meet redemptions for those retiring and for death payments. Investments into the fund are still permitted. This is a temporary measure and once the deferral is lifted members will again be free to switch monies out from the fund.

Why has this temporary deferral been put in place?

The recent Brexit vote has driven some uncertainty in markets and this in turn has increased the number looking to sell down their property holdings (individuals mainly, and not institutional investors).

To ensure an orderly sale of the necessary property assets, property funds have imposed deferrals on redemptions to allow them to raise the necessary money to meet the redemptions. It is not unusual for property funds to impose temporary deferrals on redemptions in times of market volatility.

How long will the deferral be in place?

It is impossible to confirm this at this stage. When the deferral is lifted, we will however inform all members, via another news article on this website.