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LF CanLife UK Property ACS reopened

A Canada Life spokesperson commented:

"Following the latest valuation of the LF CanLife UK Property ACS, we can confirm we are able to remove the 185-day notice period for trades, which effectively means the funds have re-opened from 8 October 2020. As a result our life and pension funds investing in the ACS have also removed their deferral periods and can also be traded.

"The redemption period was introduced in March following advice received from the independent valuers that it was not possible to provide accurate and reliable valuations for all properties held in the portfolio.  For this reason, the authorised contractual scheme manager of the LF Canlife UK Property ACS, decided, in consultation with the independent valuers, to apply the full contractual 185-day notice period to sell units. This was in order to protect investors during a period of significant market volatility."