Do you hold shares in an SCPI and wish to resell them? Be patient… It may take a few weeks… Or even several months. Find out why here.
Selling your shares held in a real estate investment company (SCPI) can take time. An investor learned this the hard way.
Processing a withdrawal request from an SCPI associate requires, beforehand, that the latter sends a complete and regular request to the management company. However, even if complete, in the event of direct ownership by the investor, the request can only be executed if the secondary market for the shares allows it and may therefore not be immediate, informed the mediator of the Financial Markets Authority. (AMF) in a notice on February 1in response a saver.
Investing in SCPI: directly or via life insurance?
More than 6 months to sell your SCPI shares
Reminder of the facts: a saver, holding shares in an SCPI, made a withdrawal request. The customer service representative of his bank would have told him that the funds would be sent to him paid within 3 weeks. The saver having still not received his funds, contacted after several weeks the management company, which confirmed that his withdrawal request was complete and regular and that it was indeed recorded in the withdrawal register, but could not be executed for at least 6 monthstaking into account current market conditions, explains the AMF.
This is when he contacts the mediator in order to obtain execution of his redemption request as quickly as possible. Given the large number of shares pending before those held by Mr. G, the management company informed me that it could neither guarantee the execution of the redemption during the next clearing, nor commit to a date of completion. execution explains the mediator. Because, to sell their shares held directly, the investor must have it bought by another partner.
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In fact, the withdrawal of an associate is thus conditional on the existence of a corresponding subscription request. If the liquidity of the shares is low, it may happen that the number of subscription requests is not enough to cover the number of withdrawal requests. A partner wishing to sell his shares can therefore be subject to exit deadlines of indefinite duration if there are not enough buyers, recalls the AMF. Mr. G will therefore have to be patient.
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Investing in SCPIs can be done directly or via life insurance. If the performance and the choice are much higher for a direct investment, there is a real problem of liquidity (the possibility of quickly selling your shares). Within life insurance, on the contrary, it is the insurer who takes care of the liquidity. Whether there is another buyer or not, the saver will be able to quickly recover his funds in the event of withdrawal.
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