UK

Aegon’s revenue fund is $ 380 billion ($ 530.7 billion) and AUM’s managed and maintained fund is $ 100 billion, according to Morningstar

LONDON: Aegon Asset Management closed its UK-owned investment after not raising enough money to meet inflationary requirements, it said on Wednesday following a similar transaction last month with Aviva.

Aegon Money was released in March 2020, based on the size of the UK investment fund market, due to the market uncertainty predicted by the COVID-19 virus.

“We see increasing challenges regarding fair sales as we ensure fair representation and stable staff performance,” the CFO said.

“To ensure the smooth operation of all investors, Aegon AM has decided to take steps to close and repay investors as soon as possible, in a fair and orderly manner.”

Aegon’s revenue fund is $ 380 billion ($ 530.7 billion) of funds managed and maintained, AUM’s is $ 100 billion, according to Morningstar.

Aegon told another newspaper that he would start distributing 40% of its profits to investors in the third quarter. It took 12-24 months to complete the release, Aegon added.

Most of the funds reopened after retail stores closed last year.

But investors in Aviva closed its assets in the UK in May, citing economic instability.

The Financial Services Council recommended that he remove the standard day-to-day business warning, for opening assets, with up to six months’ notice to avoid tying up money due to the business crisis.

These items usually belong to the sellers.

“With the regulatory change, the vision for the real estate industry is acknowledged (…) that times will be more difficult for financial institutions,” said Oli Creasey, real estate analyst Quilter Cheviot.

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