LONDON, July 29 (Reuters) - British fund firm Aberdeen AssetManagement said on Friday it had completed therebalancing of its UK property funds and no longer needed tosell properties quickly to meet redemptions.
The Aberdeen UK Property Fund and the Aberdeen UK PropertyFeeder Unit Trust were one of a number of retail property fundsto feel the pressure in the days after Britain's vote to leavethe European Union, as investors worried about the outlook forcommercial property prices.
However, Aberdeen Chief Executive Martin Gilbert saidsentiment has since improved.
"While property values have fallen following the UK's voteto leave the EU, investors do now appear to be taking a moremeasured assessment of property as a long term investment.Indeed we are seeing some signs of buying activity in light ofrecent market moves," he said.
Aberdeen said the firm continued to make a fair valueadjustment to the notional value of its assets of minus 7percent. (Reporting by Simon Jessop. Editing by Andrew MacAskill)