The suspension was initially put in place on Wednesday 6 July for 24 hours, before being extended twice to give investors more time to “consider their options”, Aberdeen said at the time. The firm was last week was one of several investment managers –  including Standard Life Investments, Aviva Investors, M&G and Columbia Threadneedle – to suspend its UK property fund after receiving a wave of withdrawals requests amid Brexit-related market uncertainties.

As of noon 13 July, investors in the Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust are able to submit trades. However, the firm noted that they would do so “at a diluted price” that reflects the current market environment and the fact that short-term sales in the property market have relatively “penal” consequences.

“I am pleased that investors will now be able to trade shares in the funds. Investors should be aware that the price may be adjusted on a daily basis to reflect the funds’ requirement to provide liquidity and the need to protect all investors. The market may take time to find its level but I have no doubt that property will continue to play an important part in investors’ portfolios,” said Martin Gilbert, chief executive of Aberdeen Asset Management.

The firm added that although today’s price incorporates a fair value adjustment of 7 per cent on property holdings, the diluted price is “quite distinct from that” and not a reflection of what it believes is achievable in the absence of undue pressure to sell properties. 

“If future trading in the fund reverts to lower levels, we would expect to lower or remove the dilution adjustment, and the price would then revert to a level reflective of longer-term property values,” it said.