June 2020 Market and Fund Update.

June witnessed a significant rebound in activity in both the owner-occupier and rental markets in England, together with the reopening of the housing market in the rest of the UK.

Although the Fund’s Standing Independent Valuer, CBRE, feels that it is too soon to remove the Material Valuation Uncertainty clause which led to the Fund’s suspension, we are encouraged by recent developments in the market and look forward to the suspension being lifted in due course.

In this update, Stuart Springham reviews the latest UK housing market data and Key Performance Indicators for the TM home investor fund.

The document can be downloaded by clicking on the image below.

A detailed list of the Fund’s property portfolio and cash holdings is available in the Portfolio Summary document.

Please see this post for information regarding the suspension of dealing in the TM home investor fund.

Important Information

This document is not a prospectus, invitation to invest or advice. Investors may get back less than the amount invested. Information on past performance is not necessarily a guide to future performance. The value of investments in the fund can go down, and there can be no assurance that any appreciation in the value of investments will occur.

Residential property values are affected by factors such as interest rates, economic growth, fluctuations in property yields and tenant default. Property investments are relatively illiquid compared to bonds and equities, and can take a significant amount of time to trade.

Hearthstone Investments Ltd 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). Hearthstone Investments Ltd (06379066) and Hearthstone Asset Management Limited (07458920) are both registered in England and Wales. The registered office for both companies is c/o Waterstone Company Secretaries Ltd Third Floor, 5 St. Bride Street, London, United Kingdom, EC4A 4AS.

Thesis Unit Trust Management Limited is the Authorised Corporate Director of the TM home investor fund. Authorised and regulated by the Financial Conduct Authority (186882).