Columbia Threadneedle is pleased to announce that it will lift the temporary dealing suspension on the Threadneedle Property Unit Trust (TPUT) and the Threadneedle Property Unit Trust Luxembourg Feeder SA SICAV-SIF (“the Feeder Fund”) with effect from 30 September 2020.

Dealing in the Threadneedle Property Unit Trust and its Feeder Fund was suspended in March this year, following the deployment of a ‘material uncertainty clause’ by the Fund’s independent property valuer, CBRE. This meant that the valuer was unable to provide an appropriate level of certainty regarding the valuation of the Fund’s assets, due to the market environment at the time. The decision to suspend dealing in the Fund was aimed at preventing any unitholders being disadvantaged by those redeeming from or investing in the Fund at an uncertain price and was consistent with the approach taken across the investment industry.

On 9 September 2020, CBRE confirmed that it has removed the material uncertainty clause from the property assets held by the Fund. As a result, the Threadneedle TPEN Property Fund will reopen for dealing on 17 September.

We have been notified, by the valuer, that it has now removed the material uncertainty clause from the property assets held by the Fund from 9 September 2020. As a result, Fund’s dealing suspension will be lifted from 30 September 2020 which is the next dealing date.

This decision has been taken by the Manager of TPUT and Feeder Fund Board in consultation with the respective Trustee and Depositary. The Jersey Financial Services Commission (JFSC) and Commission de Surveillance du Secteur Financier (CSSF) has been informed.

We thank our clients for their understanding during this unprecedented time