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Ex-New Star property merger approved

Shareholders have approved the merger of the Aviva Investors international property fund, formerly the Henderson international property fund, into Aviva’s European and Asia Pacific property funds.

 In August, Aviva became the investment manager and authorised corporate director of the Henderson international property fund and proposed to combine its assets with those held in its existing European property and Asia Pacific property funds.

Its shareholders have today approved the merger, which is expected to complete on January 21. The fund will then close and investors will instead receive holdings in each of the other two funds.

John Clougherty, the chief executive of Aviva Investors UK Funds, says the remaining two funds will be larger and more diversified as a result, which should hopefully prove attractive to new investors and increase their scale.

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