Aegon Asset Management plans to close its Aegon Property Income Fund and Property Income Feeder Funds due to continuing pandemic uncertainty.

The proposed six month notice period on property fund withdrawals could force investors into a longer term view of property funds. However, one Financial Planner warned of the potential inheritance tax implications

The Financial Conduct Authority may require property fund investors to give 180 days notice of withdrawal in future.

Three property funds have been suspended from dealing due to ‘turbulent’ market conditions and another remains suspended from last year.