Aegon confirms first distribution of 44% of assets as shutters come down on property fund

According to the fund's latest factsheet (30 June), this payment represents £168m of the total £381m in assets under management. The remaining 56% of assets will continue to be sold and investors will receive further distributions on "at least a quarterly basis… if enough properties have been sold" from 9 August onwards, the date of the fund's closure. Suspended property funds collect £40m in management fees over 2020 As of 31 July, 32 properties remain unsold in the fund. Aegon Asset Management will continue to receive a reduced annual management charge of 0.6% throughout the c...