Aviva to sell properties in Tokyo, Sydney as Asia-Pac fund closes

London

AVIVA Plc's fund management arm will sell prime commercial real estate assets in Sydney and Tokyo after withdrawals by investors forced it to shut down its £159 million (S$338 million) Asia Pacific Property Fund.

The fund, which owns properties in Sydney's central business district and offices in central Tokyo, was suspended from trading and it is slated to be wound up in August, a spokesman for the London-based company said. Two of the pool's largest investors, which together account for more than 75 per cent of the fund, …