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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Aegon N.V.    AGN   NL0000303709


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

BlackRock unlocks £3.1 billion British property fund from COVID freeze

10/01/2020 | 02:36am EST
FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York

BlackRock said on Wednesday it had lifted the suspension of its 3.1 billion pound ($4 billion) British property fund, one of several to resume dealings after a six-month freeze due to uncertainty about valuations.

Much of Britain's 70-billion-pound ($90 billion) property fund sector was frozen in March as a result of the COVID-19 pandemic, but surveyors lifted an uncertainty warning earlier this month.

Dealing in the BlackRock fund, which was suspended on March 20, will start again on Oct. 30, the U.S. asset manager said in a statement emailed to Reuters, as the fund's assets were no longer subject to "material uncertainty".

"The fund has sufficient liquidity to meet the current level of redemption requests," the statement said.

Legal & General, Royal London, St James's Place and Columbia Threadneedle have also lifted the suspension of their funds.

Aegon, Aviva, Janus Henderson and Standard Life Aberdeen said on Wednesday theirs remained suspended. Some funds have said they are checking market activity, redemption queues and cash levels before reopening.

Unlike many of the other funds, the BlackRock fund is aimed at institutional, rather than retail investors, and does not allow daily redemptions.

Regulators are unhappy about funds which invest in illiquid assets but allow investors to take their money out frequently.

Many of these funds were also suspended after Britain's vote to leave the European Union in 2016.

The Financial Conduct Authority proposed last month that investors in property funds should wait up to six months before they can get their money back to avoid a rush for the exit leading to suspensions during market volatility.

($1 = 0.7778 pounds)

By Carolyn Cohn

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AEGON N.V. 1.40% 3.18 Delayed Quote.-21.81%
AVIVA PLC 3.49% 332.4 Delayed Quote.-20.61%
BLACKROCK, INC. 2.42% 715.23 Delayed Quote.42.28%
JANUS HENDERSON GROUP PLC 2.31% 29.19 Delayed Quote.19.39%
LEGAL & GENERAL PLC 5.01% 266.3 Delayed Quote.-12.28%
ST. JAMES'S PLACE PLC 5.39% 1075 Delayed Quote.-8.12%
STANDARD LIFE ABERDEEN PLC 3.09% 280.4 Delayed Quote.-14.54%
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Sales 2020 20 948 M 25 277 M 25 277 M
Net income 2020 755 M 911 M 911 M
Net Debt 2020 3 670 M 4 428 M 4 428 M
P/E ratio 2020 8,70x
Yield 2020 4,52%
Capitalization 6 427 M 7 747 M 7 756 M
EV / Sales 2020 0,48x
EV / Sales 2021 0,41x
Nbr of Employees 23 536
Free-Float 82,9%
Chart AEGON N.V.
Duration : Period :
Aegon N.V. Technical Analysis Chart | AGN | NL0000303709 | MarketScreener
Technical analysis trends AEGON N.V.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 3,18 €
Last Close Price 3,18 €
Spread / Highest target 66,7%
Spread / Average Target -0,02%
Spread / Lowest Target -37,1%
EPS Revisions
Eilard Friese Chief Executive Officer
William L. Connelly Chairman-Supervisory Board
Matthew James Rider Chief Financial Officer
Mark H. Bloom Global Chief Technology Officer
Ben van der Veer Independent Member-Supervisory Board
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