DEALING SUSPENSION REVIEW AND UPDATE
Lifting of temporary dealing suspension in relation to the Janus Henderson UK Property PAIF and the Janus Henderson UK Property PAIF Feeder Fund (the “Funds”).
We are pleased to announce that following the most recent review of progress made to prepare the Funds for reopening, the Board of Henderson Investment Funds Limited, which is the authorised corporate director (ACD) for the UK Property PAIF, is satisfied with the progress made to raise liquidity in the Funds to allow investor dealing to resume.
Dealing in the Funds will recommence on 24 February 2021 and dealing instructions may be made from 8:00am to be processed at the noon valuation point that day.
We would like to take this opportunity to thank you for your patience and continued support, and we apologise for any frustration and inconvenience the dealing suspension may have caused.
The decision to resume dealing has been taken in agreement with the Funds’ Depositary/Trustee, NatWest Trustee and Depositary Services Limited. The Financial Conduct Authority (FCA) has also been informed.
We will continue to monitor the Funds and the market in the lead up to the planned resumption of dealing. Should anything materially change, we will issue further updates.
Attached to this notice is the investor letter that we have issued today (27 January 2021), which provides further details.
The Fund aims to provide a high and increasing level of income as well as capital growth over the long term (5 years or more). The Fund is a dedicated Feeder Fund to the Janus Henderson UK Property PAIF.
The Fund provides exposure to UK commercial real estate by investing (in normal circumstances) solely in the Janus Henderson UK Property PAIF (the Master Fund). The investment returns of the Fund will be very similar to those of the Master Fund, though could differ because the funds are treated differently for tax purposes and because the Fund may not be wholly invested in the Master Fund at all times due to the need to hold cash for administrative purposes (e.g. the payment of fees and distributions).
The Fund may also hold cash.
The investment manager may use derivatives (complex financial instruments) to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the IA UK Direct Property sector average, which is based on a peer group of broadly similar funds, as this can provide a useful comparator for assessing the Fund’s performance.
About the feeder fund
The Janus Henderson UK Property PAIF Feeder Fund is a unit trust for those investors who cannot, or do not wish to, invest directly in the Janus Henderson UK Property PAIF. The Feeder Fund solely invests in shares in the PAIF and should therefore broadly perform in line with the PAIF. Further information on the PAIF, fund literature and manager updates can be found on the main UK Property PAIF fund page.