Important Information: Fund Closure

Further to the suspension of the TM home investor fund and associated Feeder fund on 31st July 2023, Thesis Unit Trust Management Limited (Tutman) as the authorised fund manager (AFM) has confirmed on 30th October 2023 that a decision has been made to terminate the Funds. The termination of the funds will formally commence from 1st December 2023. This decision has been made following consultation with the Funds’ Depositary (NatWest Trustee and Depositary Services Limited) and Property Investment Manager (Hearthstone Asset Management Limited).

A copy of the formal Investor Notice which has been sent to investors on 30th October can be downloaded below

View investor notice

First Capital Distribution

An initial capital distribution of approximately £5.7 million of cash held by the Fund was made to investors on 12th December 2023, equivalent to approximately 9% of net asset value. Since investors will continue to hold the same number of shares throughout the termination process until a final capital distribution is made, the share price correspondingly reduced by approximately 9% on 4th December (5th December in the case of the Feeder Fund) when the capital cash was removed from the fund pending payment.

As property sales complete, it is intended that further capital distributions will be made quarterly if the Fund holds at least 5% cash.

The amount of this first capital distribution in pence per share is set out below.

Share class ISIN code Pence per share
Feeder Fund GB00B95V2K41 12.2256
Class C Accumulation GB00B95VYK84 13.9993
Class C Income GB00BLHXV501 13.1254
Class D Accumulation GB00B9608795 13.6484
Class D Income GB00BLHXV618 12.9733
Class E Accumulation GB00B6X90Z05 14.2734
Class E Income GB00BLHXV725 13.2945
Class F Accumulation GB00B54N2C52 13.9007
Class G Income GB00B76WFY75 12.1932