On 6^th July 2016, Columbia Threadneedle temporarily suspended dealing in the Threadneedle UK Property Authorised Investment Fund (PAIF) and its feeder fund, Threadneedle UK Property Authorised Trust.

Columbia Threadneedle has taken this step because the firm has experienced a significant increase in redemption requests due to the uncertainty engendered by the outcome of the EU referendum.  The firm highlights that the temporary suspension of dealing protects the interests of all investors by allowing the managers time to undertake an orderly sale of assets.

This suspension was taken with approval from the fund’s depositary and the FCA has been notified.

In practical terms, the following rules apply during suspension:

• Orders received by 12 noon on 6^th July 2016 are being actioned. Thereafter, investors are unable to buy, sell, transfer or switch shares from either fund from this time.   Any deals will be rejected and investors will need to reinstruct Columbia Threadneedle once the funds commence dealing again.
• During the suspension, Columbia Threadneedle will continue to value both funds and calculate a daily price.
• Columbia Threadneedle will update its website when dealing in the funds resumes.

Further information can be found at www.columbiathreadneedle.com/paif.

This suspension is in keeping with the actions taken by other UK commercial property fund managers since the EU referendum.

The fund can still be found on our Recommended list but as a reminder of the current situation, we have added a note on the factsheet and also referred to it in our IA Sector Overview.