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Irish Commercial Property funds in trouble?

  • 31-01-2020 06:15PM
    #1
    KWAG2019
    Closed Accounts Posts: 834 ✭✭✭


    RTE saying Aviva has frozen outflows from its commercial property funds due to recent large outflows. Other funds have devalued. First time since financial crisis Aviva have done it. Is this Brexit related or worse?


Comments

  • #2
    vriesmays
    Registered Users, Registered Users 2 Posts: 1,570 ✭✭✭vriesmays


    It's called the next recession.


  • #3
    SEPT 23 1989
    Registered Users, Registered Users 2 Posts: 43,038 ✭✭✭✭SEPT 23 1989


    no amount of money is enough for them


  • #4
    blanch152
    Registered Users, Registered Users 2 Posts: 33,195 ✭✭✭✭blanch152


    KWAG2019 wrote: »
    RTE saying Aviva has frozen outflows from its commercial property funds due to recent large outflows. Other funds have devalued. First time since financial crisis Aviva have done it. Is this Brexit related or worse?

    No, it is Irish property funds. It is probably related to the general election, with people taking their money out of Ireland in case Sinn Fein get in and do a Syriza.


  • #5
    topper75
    Registered Users, Registered Users 2 Posts: 5,942 ✭✭✭topper75


    Has a 2006 smell off it alright. Yeah I'm picturing the rolling stock slowing as the locomotive crests the hill.


  • #6
    vriesmays
    Registered Users, Registered Users 2 Posts: 1,570 ✭✭✭vriesmays


    Brendan O'Connor is sitting in the Indo office writing his next article: the wise ballsy guys are back buying right now.


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  • #7
    James Brown
    Closed Accounts Posts: 16,012 ✭✭✭✭James Brown


    blanch152 wrote: »
    No, it is Irish property funds. It is probably related to the general election, with people taking their money out of Ireland in case Sinn Fein get in and do a Syriza.

    That's right. A pretty minor party with zero chance of leading the next government is the cause.
    Sure the Brexit deal is bullet proof, can't be that. Maybe related to the EU tax avoidance law? Might FG be calling for a Irexit? I mean they're fighting for apples 13bn. Smells like an Irexit party in the making.


  • #8
    blanch152
    Registered Users, Registered Users 2 Posts: 33,195 ✭✭✭✭blanch152


    Matt Barrett wrote: »
    That's right. A pretty minor party with zero chance of leading the next government is the cause.
    Sure the Brexit deal is bullet proof, can't be that. Maybe related to the EU tax avoidance law? Might FG be calling for a Irexit? I mean they're fighting for apples 13bn. Smells like an Irexit party in the making.

    It happened in the UK when it looked like Corbyn had a sniff when May called that stupid election. Investors are very sensitive to changes in the political atmosphere.


  • #9
    caff
    Registered Users, Registered Users 2 Posts: 959 ✭✭✭caff


    More boring than that, they never should have been allowed day trade illiquid funds. Monthly trading would be fine


  • #10
    smurgen
    Registered Users, Registered Users 2 Posts: 6,933 ✭✭✭smurgen


    blanch152 wrote: »
    It happened in the UK when it looked like Corbyn had a sniff when May called that stupid election. Investors are very sensitive to changes in the political atmosphere.

    Cool.so the price of land will plummet and social housing building will become cheaper.


  • #11
    micar
    Registered Users, Registered Users 2 Posts: 1,920 ✭✭✭micar


    KWAG2019 wrote: »
    RTE saying Aviva has frozen outflows from its commercial property funds due to recent large outflows. Other funds have devalued. First time since financial crisis Aviva have done it. Is this Brexit related or worse?

    Irish life did something similar last week and Zurich just announced this evening similar change in price basis


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  • #12
    James Brown
    Closed Accounts Posts: 16,012 ✭✭✭✭James Brown


    blanch152 wrote: »
    It happened in the UK when it looked like Corbyn had a sniff when May called that stupid election. Investors are very sensitive to changes in the political atmosphere.

    Great, vulture funds leaving us so.


  • #13
    Eric Cartman
    Registered Users, Registered Users 2 Posts: 26,242 ✭✭✭✭Eric Cartman


    smurgen wrote: »
    Cool.so the price of land will plummet and social housing building will become cheaper.

    Did the price of land in the uk plummet ?


  • #14
    Colonel Claptrap
    Registered Users, Registered Users 2 Posts: 940 ✭✭✭Colonel Claptrap


    Matt Barrett wrote: »
    Great, vulture funds leaving us so.

    Do you consider the Aviva Irish Property Fund a vulture fund?


  • #15
    smurgen
    Registered Users, Registered Users 2 Posts: 6,933 ✭✭✭smurgen


    Eric Cartman wrote: »
    Did the price of land in the uk plummet ?

    No idea what you're talking about


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