Aviva Investors has abandoned its plan to raise £200m (€227.1m) for a long-income real estate fund to be listed on the London Stock Exchange “due to insufficient demand”.

Last month, Aviva Investors, which manages £4bn in long-lease real estate strategies, said it would launch an initial public offering in December for Aviva Investors Secure Income REIT.

Insurer and parent company Aviva was expected to make a direct investment to own 19.99% of shares placed.

Aviva Investors Secure Income REIT said today that it had taken the decision not to proceed with an initial public offering “due to insufficient demand at the current time.”

Renos Booth, head of real estate long income at Aviva Investors, said: “We would like to thank all the institutional investors and intermediary retail platforms who took the time to meet with management.

“We will give consideration to reactivating the proposed initial public offering at a later date.”

Aviva Investors is the largest manager of UK commercial real estate with £24bn under management as at 30 September.