DEGI asks for EUR 4.5 mln back on Romanian office deal, cancels redemption suspension

Newsroom 03/02/2009 | 15:25

DEGI, part of Aberdeen Property Investors, has recently ended the suspension of redemptions for its DEGI International fund, which has been in effect since the end of October last year.
Since redemptions were suspended, the fund has posted inflows of a total of EUR 65 million from private investors. This has improved liquidity, and after ending the suspension of redemptions, DEGI International will have access to liquid reserves of around 25 percent of fund assets, the fund has said. By contrast, the company will extend the suspension of redemption of units for DEGI Europa for a further nine months.
“Since the suspension of redemptions of units in October 2008, it has not been possible to secure sufficient liquidity to end the suspension. The fund manager will continue efforts to increase the level of liquid assets in the fund and is expressly trying to end the suspension of redemption early,” said DEGI in a statement.
Corina Saceanu

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