The firm has been operating on fortnightly valuations across its property funds, including the £2.5bn Norwich property trust, since December after a surge in volatility across the asset class led to widespread redemptions.
The Norwich property trust has been one of the worsthit funds, having fallen from over £4bn in August 2007. The group says redemptions in the trust are now 10 per cent of those seen in December 2007.
The trust’s cash level has risen in the past month to 6.7 per cent, with 93.1 per cent invested in direct property and 0.2 per cent in property shares.
A spokesman says: “Movements in property values appear to have returned to more usual levels and this should be seen very much as a return to business as usual for these funds, none of which has had to suspend trading or defer redemptions.”