Fund Performance Factsheet – October 2018

We’ve published the latest factsheets for the fund, and they can be downloaded from the link below.

Fund Performance Factsheet – October 2018

October Performance Update

LSL Acadata records a national price rise of 0.4% in October, again with significant regional variations. Where affordability remains good, volume of transactions, and prices remain strong, such as in the Midlands. The Fund’s properties in Nottingham, for example, remain popular and fully let, with one new letting showing rental growth from when first acquired Last year. Overall the fund’s portfolio continues to outperform the Acadata House Price Index.

Where affordability is stretched such as in the South East and East, there have been small falls or rises, but no clear trend. London remains a Curates Egg, with some Boroughs such as Brent, where the Fund’s flats at Wembley Park are located, seeing a rise of 2.4% while Hammersmith and Fulham saw a fall of 4%.

The fund completed on the sale of one apartment in Wembley for £305,000 in the last week of October. This was purchased in February 2013 for £197,500 showing an uplift over that period of 54.43%. We originally purchased 34 units in Quadrant Court in Wembley Park  with 22 remaining in our overall holdings.

Although volumes of sales and purchases disappoint estate agents, there are still over 75,000 transactions a month, far from a poor market. The Fund has sold one flat in October, achieving just over the valuation figure and has three more sales agreed, all at +/- 1% of the independent valuation.

The RICS monthly survey shows continuing strong rental demand and an expectation of rental growth of around 2% next year, which seems sensible with ONS reporting average earnings growing at 2.7% pa.


Third-party platforms will have different classes available. A selection of platforms and the available classes are shown below, but please contact us if the online platform you use is not shown.

Please note that Hearthstone is not able to provide financial advice, and the information on this page should not be taken as advice to invest in the fund, or as to the suitability of the fund, a specific share class, or platform for your personal circumstances.

Halifax Share Dealing, Tilney Bestinvest, Charles Stanley Direct, iWeb:

     >   Unit Trust Feeder Fund (ISIN code GB00B95V2K41)

Hargreaves Lansdown (telephone/postal dealing only), Interactive Investor, Alliance Trust Savings, AJ Bell Youinvest:

     >  For pension/SIPP and ISA only: Class C (ISIN code GB00B95VYK84)

     >  For General Investment Account, pension/SIPP or ISA: Class D (ISIN code GB00B9608795)

Risk Warning

Investing involves risk. Investors should be aware that the value of an investment and the income from it can fall as well as rise, and they may not receive back the full amount they invest. Past performance is not a reliable indicator of future results.
The Authorised Fund Manager is Thesis Unit Trust Management Limited, Exchange Building, St John’s Street, Chichester, West Sussex, PO19 1UP. Authorised and regulated by the Financial Conduct Authority.

Hearthstone Investments PLC is the parent company of the Hearthstone Investments Group. Regulated business is carried out by Hearthstone Asset Management Limited. Hearthstone Asset Management Limited is an appointed representative of Thesis Asset Management Limited which is authorised and regulated by the Financial Conduct Authority (114354).