Reminder of restrictions on the Glanmore Property Fund (P27)

13 December 2013

Further to our last update in October 2012 regarding amendments made to the Glanmore Property fund, we would like to remind you of the current restrictions on this fund.

  • The dealing frequency of the underlying fund was changed from monthly to quarterly with effect from 30 September 2012, however the Glanmore Property fund (P27) will remain suspended until further notice.
  • The directors of Glanmore have been given the authority to extend the postponement of redemption requests by a further 24 months.  Any new redemption requests could now potentially have to wait up to 72 months, following completion of the standard notice period.
  • The value shown on any policy statements you receive will be based on the last unit price which was published on our systems prior to the fund's suspension. Please be aware that this unit price does not reflect the actual value that may be achievable, should the suspension be lifted.

A copy of the client which has been sent out to policyholders invested in this fund can be found here.

If you have any questions regarding this update, please contact our Group Investments Department.

Journalists requiring further information should contact: