In similar fashion to its peers, Henderson suspended trading in the fund on 6 July as redemptions spiked in the wake of the Brexit vote.
The situation has improved significantly since then and Henderson said investors can place subscriptions and redemptions anytime from 21 September onwards. They will be executed on 14 October.
Henderson said this notice period allows investors ‘to make informed decisions’ and for the ‘necessary preparations’ ahead of the re-opening.
The firm said ‘good progress’ in asset sales has enabled re-establishment of a liquidity buffer.
Ainslie McLennan, co-manager of the funds, said: “We are pleased with the pricing attained on the assets sold in the period since 23 June 2016, with the majority of sales exceeding 31 December 2015 valuations, and comfortable that this was achieved without compromising the diversification and performance potential of the remaining property portfolio.”
“The focus remains on holding a strong portfolio of defensive, core assets with a mix of robust tenants on long leases across all sectors,” McLennan continued. “The portfolio provides an attractive net historical income yield of 3.2% which in the form of contractual rental income offers a steady income stream and remains attractive relative to bonds and equities. Around a third of the income comes from leases with either fixed uplifts or Retail Price Index linked increases, providing an element of rental growth.”
