Withdrawal of ARF

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Feemar5

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I invested some of my retirement lump sum from the HSE with Aviva a few years ago through a financial agent. The fund is called Aviva UK Property investment fund which has consistently loss money every year. I tried to withdraw from the fund and have been informed by Aviva that there is a six 6 months moratorium on withdrawal. Is this the normal procedure. Any advice would be appreciated
 
It’s not an uncommon procedure for Property Funds. The issue revolves around the relative illiquidity of Property as a asset. Whilst Equities can be sold immediately, if there was a “run” of withdrawals on a Property Fund (more investors looking to get out than investors looking to buy in) then putting a six month hold on exits is fairly normal.
 
For what it’s worth I wanted to move out of an Irish Life pension property fund last year. My advisor explained the six months notice requirement as also outlined by Conan above. I was fine with that but I got a note from IL a few months after to say that period was being waived. So; I was able to move my fund out a bit earlier than the six months period.

Not sure it helps you OP.
 
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