Standard Life Investments Property Income (GB:API) has released an update.
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abrdn Property Income Trust Limited (API) has reported its interim results for the period ending on 30 June 2024, revealing a challenging market with an IFRS loss per share and a decrease in total assets. The company has initiated a strategic shift towards asset realization, with the sale of its entire investment portfolio to GoldenTree Asset Management at a discount, aiming to return capital to shareholders following the completion of the sale. Despite market uncertainties, including persistent inflation and geopolitical tensions, API is moving forward with a managed wind-down process and has received shareholder backing for the new strategic direction.
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