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FAQs

Popular FAQs

How has the fund performed?

A number of external sites including Morningstar, Trustnet  and Financial Times publish prices and performance daily*.

Different share classes have different charges and will perform differently as a result. Not all classes are available to direct retail investors.

Share class X, which is available through the WealthKernel portal, was not launched until 13th July 2018, so has limited past performance information – although it does invest in the same underlying portfolio of properties as the other share classes.

For more information on charges, see the FAQ ‘What does it cost’ 

*Please note that the fund was originally named the ‘TM Hearthstone UK Residential Property Fund’ but changed to ‘TM home investor fund’ on 13th July 2018. Some past performance information or data on other websites may still refer to the fund by its previous name.

It’s important to remember that returns are not guaranteed, and that past performance should not be used as a reliable guide to future performance.

A number of external sites including Morningstar, Trustnet  and Financial Times publish prices and performance daily*. Different share classes have different charges and will perform different ...

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Who’s behind the TM home investor fund?

Hearthstone Asset Management Limited, a subsidiary of Hearthstone Investments plc (‘Hearthstone’) is the Property Investment Adviser to the fund.  Hearthstone is a residential property investment specialist, which was founded in 2009 as the UK’s first fund manager to focus solely on residential property. Supported by a highly experienced team, it has successfully brought a range of investment funds to market for both individual and corporate investors. Through close relationships with estate agents and housebuilders and careful property selection and management, Hearthstone aims to offer attractive, stable investment performance while providing excellent accommodation and landlord services to the growing number of households looking to rent.

The ‘TM’ in the fund’s name signifies that Thesis Unit Trust Management Limited (TUTMAN) is the fund’s Authorised Corporate Director and has overall responsibility for ensuring the fund is operated in accordance with the Financial Conduct Authority’s regulations.

National Westminster Bank Plc (NatWest) is the fund’s Depositary and is responsible for overseeing TUTMAN’s operation of the fund.  NatWest is also responsible for the safeguarding of the assets of the fund and protecting the interests of incoming, outgoing and continuing investors.

Hearthstone Asset Management Limited, a subsidiary of Hearthstone Investments plc (‘Hearthstone’) is the Property Investment Adviser to the fund.  Hearthstone is a residential property investment ...

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What does it cost?

Just like any other product or service, TM home investor fund is subject to charges and expenses which have the effect of reducing the potential returns of your investment. These include the costs of running the fund, as well as marketing and distribution costs.

The share class you can invest into through the online portal provided by WealthKernel has estimated ongoing charges (OCF) of 1.81% per year. This includes the Annual Management Charge of 1.1% plus other estimated variable expenses incurred in operating the fund. The variable expenses depend on things like the number of investors in the fund, property valuation fees and legal costs.

Of the 1.1% Annual Management Charge, 0.2% is paid to WealthKernel as a product fee to manage the service they provide, which includes the administration of your investment on their portal as well as the ongoing reporting to you.

There are no initial charges made on your investment through the online portal, so all of your money is used to buy shares in TM home investor fund. However, the costs of buying or selling properties (such as Stamp Duty Land Tax, disbursements, estate agent and legal fees) are factored into the share price. More information can be found in the fund’s prospectus.

Different share classes are available on third-party investment platforms and through financial advisers. Not all share classes are available directly to retail investors. Other share classes may have higher or lower charges than that available through the WealthKernel portal, but the third-party platform or financial adviser will usually make a charge for the service and, if applicable, the financial advice provided. A full list of share classes can be found in the fund’s prospectus which you can contact us to obtain.

You may also contact us for an application form should you not wish to use any of the above methods to invest in the fund.

Just like any other product or service, TM home investor fund is subject to charges and expenses which have the effect of reducing the potential returns of your investment. These include the costs of ...

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Can I view which properties the fund owns??

A selection of the properties can be found here 

A selection of the properties can be found here 

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Will I pay tax on my investment?

TM home investor fund is a UK domiciled Open Ended Investment Company (OEIC) which is authorised by the Financial Conduct Authority. It also has Property Authorised Investment Fund (PAIF) tax status, meaning that the fund’s income from property investment is exempt from corporation tax, which would normally be payable by an OEIC at 20%. 

If you invest through an ISA, you won’t pay tax on any income or capital gains from the fund.

Investors not in an ISA, may be liable to income tax or capital gains tax. you can contact us for a copy of the prospectus which contains more detailed information on taxation within the fund and taxation in the hands of the investor

Taxation information is based on Hearthstone’s understanding of legislation in force as at July 2018. Legislation may change, and tax and trust law may be open to differing interpretation. The impact of taxation will depend on individual circumstances. Potential investors should seek advice from their financial adviser or tax specialist before investing. You can find a financial adviser at www.mylocaladviser.co.uk or www.unbiased.co.uk

TM home investor fund is a UK domiciled Open Ended Investment Company (OEIC) which is authorised by the Financial Conduct Authority. It also has Property Authorised Investment Fund (PAIF) tax status, ...

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Why don’t you do commercial property?

Hearthstone’s team are experts in residential property investment. Although commercial property and residential property are both ‘bricks and mortar’, the two are very different and need different expertise and experience to get the best investment returns.

Hearthstone’s team are experts in residential property investment. Although commercial property and residential property are both ‘bricks and mortar’, the two are very different and need different exp ...

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About Hearthstone

  • Why don’t you do commercial property?

    Hearthstone’s team are experts in residential property investment. Although commercial property and residential property are both ‘bricks and mortar’, the two are very different and need different expertise and experience to get the best investment returns.

  • What other partners does Hearthstone work with?

    WealthKernel

    Hearthstone partners with WealthKernel to enable you to invest through an online portal. WealthKernel is regulated by the Financial Conduct Authority and holds client data securely on our behalf. For more information please visit: https://www.wealthkernel.com/powered-by

    Thesis Group

    Thesis Unit Trust Management is the Fund’s Authorised Corporate Director, and Thesis Asset Management Limited is responsible for the cash management functions of TM home investor fund.

    Formed in 1974, it has been investing on behalf of clients for over 40 years and, as at 30/09/2017, manages or administers over £14 billion of assets.

    Winterflood

    Winterflood is the custodian of investments made through the online investment portal provided by WealthKernel, and is also an authorised ISA manager. 

  • Who’s behind the TM home investor fund?

    Hearthstone Asset Management Limited, a subsidiary of Hearthstone Investments plc (‘Hearthstone’) is the Property Investment Adviser to the fund.  Hearthstone is a residential property investment specialist, which was founded in 2009 as the UK’s first fund manager to focus solely on residential property. Supported by a highly experienced team, it has successfully brought a range of investment funds to market for both individual and corporate investors. Through close relationships with estate agents and housebuilders and careful property selection and management, Hearthstone aims to offer attractive, stable investment performance while providing excellent accommodation and landlord services to the growing number of households looking to rent.

    The ‘TM’ in the fund’s name signifies that Thesis Unit Trust Management Limited (TUTMAN) is the fund’s Authorised Corporate Director and has overall responsibility for ensuring the fund is operated in accordance with the Financial Conduct Authority’s regulations.

    National Westminster Bank Plc (NatWest) is the fund’s Depositary and is responsible for overseeing TUTMAN’s operation of the fund.  NatWest is also responsible for the safeguarding of the assets of the fund and protecting the interests of incoming, outgoing and continuing investors.

Residential property investing

  • What are the benefits compared to buy-to-let?

    Compared with traditional buy-to-let investing, the fund compares favourably for the following reasons:

    Lower risk: The fund offers greater diversification than buy-to-let, spreading the risk of property ownership across a large number of tenants, property types and locations, rather than it being concentrated in one or two properties in a single area.

    Buying power: As a large investor, the fund is also able to acquire assets through bulk-purchases from developers at discounts to open market value, providing additional return to investors.

    Value for money: The fund costs include all property management and maintenance as well as tenant liaison, making it hassle-free for investors, compared to a direct buy-to-let investment.

    Tax efficiency*: Unlike direct buy-to-let, the fund can be held in ISA, SIPP, Offshore Bonds and trusts. Outside of these tax-advantaged wrappers, capital gains are not subject to the 8% Capital Gains Tax Surcharge which apply to buy-to-let properties. Buy-to-let investors also have to sell an entire property – perhaps worth hundreds of thousands of pounds – in order to realise any capital gain, whereas an investor in the fund could choose to cash in just some of their shares to keep within annual Capital Gains Tax allowances each year.

    *Taxation information is based on Hearthstone’s understanding of legislation in force as at July 2018. Legislation may change, and tax and trust law may be open to differing interpretation. The impact of taxation will depend on individual circumstances. Potential investors should seek advice from their financial adviser or tax specialist before investing. 

  • I own a property, why should I invest in this fund too?

    Most investors are underweight residential property – their own house is not part of their investible assets and is usually purchased because it suits their lifestyle, not because of the investment returns it might generate. 

     A professionally managed portfolio of private rented flats and houses can provide real diversification, alongside long-term capital growth or consistent income returns, within a portfolio of other assets such as equities, fixed income and commercial property. 

    As a large investor in residential property, the fund is also able to spread the risk of property ownership rather than it being concentrated in one or two properties in a single area. TM home investor fund invests in flats and houses of various sizes across England, Scotland and Wales to broadly reflect the UK (excluding Northern Ireland) housing market in terms of regional distribution and property type. Preference is for new or modern properties to keep maintenance and management costs as low as possible and which will attract reliable long-term tenants in strong performing rental locations with an active re-sale market to give the best potential returns. 

    The fund can also be used to meet specific requirements, such as an alternative to buy-to-let or to ensure money keeps pace with house price inflation for those saving for a house, to help their children/grandchildren on the housing ladder, or for expats currently living abroad.

  • What are the benefits of residential property compared to commercial property?

    Residential property investment is very different to commercial property investment and needs different expertise and experience in order to gain the best returns. 

    In general, residential property provides:

    • Diversification - low correlation to other mainstream asset classes, including commercial property.
    • Improved liquidity – whilst liquidity risk will exist for any property fund, it is generally easier to sell a house than a large commercial property as the residential market is larger and more active and with lower unit sizes.
    • Historically greater resilience of rental income during market downturns 
  • How risky is residential property investment?

    Properties, like most other things, can go up or down in value. The value of your investment is very much dependent on the value of properties in the fund, so that can go up or down in value too. Property values, although provided by professional, independent Chartered Surveyors are a matter of opinion, so the price actually achieved when a property is sold could be higher or lower than its most recent valuation.

    Property can also take time to sell and, although the fund does usually hold enough cash to enable investors to withdraw their money, delays may occur if properties need to be sold. 

    You should always read the Key Investor Information Document or the prospectus before investing.

    UK residential property does have a long history of providing investment returns which are less volatile than the stock market or commercial property. It also tends to react differently to changes in the economic environment than other asset classes (in other words, its returns have little correlation with equities, fixed income and commercial property). If you already invest in those asset classes, an investment in the TM home investor fund can give your overall portfolio further diversification and potentially reduce the risk of your overall portfolio.

    There are also a number of ways which the fund reduces risk compared to direct property ownership:

    • It doesn’t take out mortgages on its properties, so the fund cannot end up in negative equity if property values fall. 
    • As a large investor, the fund can buy houses across a variety of locations and property types, and a large number of tenants, which spreads the risk compared to a small landlord holding one or two properties in a single area.
    • Hearthstone is also able to work closely with agents and developers to secure the best properties at the lowest cost to the fund.
    • Preference is given to new or modern properties which can reduce maintenance costs, and which attract reliable, long-term tenants.

General 'investing' questions

  • Do I have to use a Financial Adviser to invest in TM home investor fund?

    No, as the fund is authorised for retail investors, you don’t have to seek professional advice. If you’re comfortable with DIY investing you can invest yourself through the online portal provided by WealthKernel or via your usual investment platform. You should always read the Key Investor Information Document before investing.  If you are unsure about whether the fund is suitable for you, we would recommend you talk to an authorised financial adviser. You can search for free on www.unbiased.co.uk or www.mylocaladviser.co.uk to find a financial adviser near you.

  • Is there a maximum age to invest?

    No, there is no maximum age.

  • Do you offer financial or tax advice?

    No. Hearthstone is not authorised to provide financial or tax advice, and information on this website should be not considered investment advice or a recommendation to invest. If you need financial or tax advice you should talk to an authorised financial adviser - you can search for free on www.unbiased.co.uk or www.mylocaladviser.co.uk to find a financial adviser near you. 

  • How will I know how my investment is performing?

    If you invest through the online portal provided by WealthKernel, you will be able to see the latest valuation of your investment by logging in to your account.

    Share price and performance information is also available on a number of third-party websites such as Trustnet, Morningstar and Financial Times. 

    Remember, past performance is not a guide to future performance and that the value of your investments can go down as well as up.

  • Can I include my TM home investor fund investment in my ISA or SIPP?

    You can invest in the fund through a new Stocks and Shares ISA via the online portal provided by WealthKernel. The portal does not currently offer a SIPP investment option

    The fund can be held in many other providers’ Stocks and Shares ISA, Junior ISA, and SIPPs. Please talk to your provider or financial adviser and let them know you would like to invest in the TM home investor fund.

  • Does the fund trade on a secondary market?

    No. The fund is an Open Ended Investment Company (OEIC), so it can create additional shares for new investors to buy, or cancel shares when it buys them back from those who want to cash in their investment. This means there is no need for a secondary market.

    In unusual market conditions, there may be a delay in withdrawing money if properties need to be sold. However, the fund aims to hold 10% to 15% of assets in cash to cover withdrawals and has a stream of rental income that can be used to meet withdrawals in the short term.

  • Who invests in TM home investor fund?

    Investment returns from residential property tend to have little correlation to other mainstream asset classes, which means it acts differently to equities, fixed income and commercial property investments as market conditions change. TM home investor fund can, therefore, provide a useful way of diversifying your investment portfolio to spread the risk of investing. The fund is often recommended by financial advisers and we have many institutional investors who have invested pension fund money for exactly this reason. 

    People also invest in TM home investor fund with a particular goal in mind: 

    • first time buyers saving for a house deposit, 
    • parents and grandparents wanting to help children onto the property ladder, 
    • expats aiming to keep a toe in the UK housing market, 
    • people looking for a hassle-free alternative to buy-to-let, as well as other more general investment aims.

    There are investors saving £100 each month and ones who’ve invested £1m or more.  

  • How long is my investment committed for?

    There’s no lock-in period or minimum investment time. However, this should be considered as a medium to long-term investment of at least five years.

  • Why should I invest?

    TM home investor fund offers an affordable way to invest in UK private rented property, a popular and long-established asset class in the UK. The fund aims to grow your investment over the medium- to long-term, using the professional buying power and property management expertise of Hearthstone’s team of residential investment specialists to maximise returns. Rental income, after property management costs and fund charges, is also reinvested into the fund.

     It also offers real investment diversification in a portfolio of equities, bonds or commercial property because residential property acts differently to these other mainstream asset classes as market conditions change. 

    People invest in the fund for lots of different reasons including to help manage the risk of an existing portfolio of equities, bonds and commercial property; as a way of helping their money keep pace with property prices when saving for a house or to keep a foot on the property ladder whilst living abroad; or to create a nest-egg for retirement.

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The Fund

  • Can I invest via a SIPP?

    The TM home investor fund enables holding residential property within a Self Invested Personal Pension (SIPP), although this option is not currently available through the online portal provided by WealthKernel.

    You can invest in a SIPP via many external investment platforms and SIPP providers.

    Your financial adviser will also be able to advise you on how to invest in the fund through a SIPP.

  • Is TM home investor fund an ethical investment?

    Ethical investing is a broad term and can have different meanings for different people, but the fund only invests in houses and flats which are mostly rented by individuals and families It doesn’t invest in any assets or companies that are not related to residential property. 

    In addition, Hearthstone is committed to providing excellent accommodation and landlord services to its broad range of tenants. In a market where almost a third of the UK’s rented homes fail to meet Decent Homes Standards, we believe the fund meets an important social need.

  • Will I ever be required to put in more money to cover costs etc?

    No, you will never be asked to invest more into the fund for any reason.

  • Is my investment secured or guaranteed?

    There are no guarantees that the value of your investment won’t fall, and we cannot guarantee how much you’ll make while you’re invested. Your investment returns are driven by the change in value of the properties, the rents paid by tenants, and the fund’s costs and charges. The fund is covered by the Financial Services Compensation Scheme which you can find out more about here

  • When can I buy and sell the fund?

    Under normal circumstances, you can buy or sell shares in the fund on any UK business day. If selling shares (‘cashing in’ your investment), the sale will normally be settled four business days later. If using the WealthKernel portal, the money will usually be cleared into your bank account after one additional business day.

    The fund aims to hold 10% to 15% of assets in cash to cover withdrawals and also has a stream of rental income that can be used to meet withdrawals in the short term. Note that in unusual market conditions, there may be a delay in withdrawing money if properties need to be sold. For more information, see this page 

  • What does it cost?

    Just like any other product or service, TM home investor fund is subject to charges and expenses which have the effect of reducing the potential returns of your investment. These include the costs of running the fund, as well as marketing and distribution costs.

    The share class you can invest into through the online portal provided by WealthKernel has estimated ongoing charges (OCF) of 1.81% per year. This includes the Annual Management Charge of 1.1% plus other estimated variable expenses incurred in operating the fund. The variable expenses depend on things like the number of investors in the fund, property valuation fees and legal costs.

    Of the 1.1% Annual Management Charge, 0.2% is paid to WealthKernel as a product fee to manage the service they provide, which includes the administration of your investment on their portal as well as the ongoing reporting to you.

    There are no initial charges made on your investment through the online portal, so all of your money is used to buy shares in TM home investor fund. However, the costs of buying or selling properties (such as Stamp Duty Land Tax, disbursements, estate agent and legal fees) are factored into the share price. More information can be found in the fund’s prospectus.

    Different share classes are available on third-party investment platforms and through financial advisers. Not all share classes are available directly to retail investors. Other share classes may have higher or lower charges than that available through the WealthKernel portal, but the third-party platform or financial adviser will usually make a charge for the service and, if applicable, the financial advice provided. A full list of share classes can be found in the fund’s prospectus which you can contact us to obtain.

    You may also contact us for an application form should you not wish to use any of the above methods to invest in the fund.

  • What am I investing in?

    You’re buying into a residential property fund with many other investors. All investors’ money is pooled together and used to buy flats and houses of various sizes, which are then rented to families, individuals and companies. The properties are spread across England, Scotland and Wales and broadly reflect the UK (excluding Northern Ireland) housing market in terms of regional distribution and property type. TM home investor fund is actively managed, which means Hearthstone doesn’t just follow the market; our team of residential property experts have the flexibility to select only properties that are expected to positively impact the portfolio over the long-term.

    Preference is for the fund to buy and hold properties for the long-term, although when necessary, it will sell properties that are not performing as well as expected. It tends to buy new or modern properties to keep maintenance and management costs as low as possible, and homes that will attract reliable long-term tenants in sought-after rental locations that also have an active re-sale market.

    Alongside the property investments, around 10% to 15% of the fund is kept in cash to pay investors who want to cash in their investment. (Note that in unusual market conditions, there may be a delay in withdrawing money if properties need to be sold. For more information, see this page 

    The fund may temporarily move from the above allocations should investment circumstances dictate. Further information on the fund’s investment and borrowing restrictions are outlined in the prospectus. 

  • What is TM home investor fund?

    TM home investor fund is an affordable way to invest in private rented UK houses and flats, so you can enjoy the investment benefits of residential property, whatever your budget. The fund aims to grow your investment over the medium to long-term, using the professional buying power and property management expertise of Hearthstone’s team of residential investment specialists to maximise investment returns. Rental income, after property management costs and fund charges, is also reinvested into the fund.

    By investing in private rented residential property, an asset class many are familiar with, the fund can offer a hassle-free and tax-efficient alternative to buy-to-let or help your money keep pace with property prices when saving for a deposit for your first home, or for your children or grandchildren.  It also offers real investment diversification in a portfolio of equities, bonds or commercial property because residential property acts differently to these other mainstream asset classes as market conditions change. 

    As for all investments, the value of shares in TM home investor fund can go down as well as up and you may get back less than you put in. 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.

     

Investment performance and tax

  • What happens if property prices fall?

    As the value of the fund is very much determined by the value of the properties it owns, if property prices fall so will the value of your investment in the fund. Income from rents and any cash held by the fund may offset the fall in property values by some degree.  

    Hearthstone’s team of residential property experts invests in a range of property types across the UK, particularly seeking areas where we believe house prices and private rents will increase in value. UK residential property has a long history of providing attractive, stable returns, but house prices do fluctuate, and the fund should be considered as a medium to long-term investment of at least five years.

  • How is share price calculated?

    The share price is calculated as at 10:30pm every day by the fund’s accountant, Northern Trust. The calculation broadly adds up the value of all the fund’s properties and cash, take away fund and property management expenses, and divide the result by the number of shares in issue. 

    However, if the fund has more new investors coming in (and so expects to buy more properties), there will be an upward adjustment to the share price (known as ‘offer pricing’) to allow for the costs of buying the new properties. If the fund has more investors leaving (and expects to have to sell properties to meet redemptions), there will be a downward adjustment to the share price (known as ‘bid pricing’). These ‘bid’ and ‘offer’ pricing adjustments aim to ensure the fund’s existing investors don’t suffer the costs of buying or selling properties caused by other investors coming into or leaving the fund. This is explained in more detail here.

  • Will I pay tax on my investment?

    TM home investor fund is a UK domiciled Open Ended Investment Company (OEIC) which is authorised by the Financial Conduct Authority. It also has Property Authorised Investment Fund (PAIF) tax status, meaning that the fund’s income from property investment is exempt from corporation tax, which would normally be payable by an OEIC at 20%. 

    If you invest through an ISA, you won’t pay tax on any income or capital gains from the fund.

    Investors not in an ISA, may be liable to income tax or capital gains tax. you can contact us for a copy of the prospectus which contains more detailed information on taxation within the fund and taxation in the hands of the investor

    Taxation information is based on Hearthstone’s understanding of legislation in force as at July 2018. Legislation may change, and tax and trust law may be open to differing interpretation. The impact of taxation will depend on individual circumstances. Potential investors should seek advice from their financial adviser or tax specialist before investing. You can find a financial adviser at www.mylocaladviser.co.uk or www.unbiased.co.uk

  • How has the fund performed?

    A number of external sites including Morningstar, Trustnet  and Financial Times publish prices and performance daily*.

    Different share classes have different charges and will perform differently as a result. Not all classes are available to direct retail investors.

    Share class X, which is available through the WealthKernel portal, was not launched until 13th July 2018, so has limited past performance information – although it does invest in the same underlying portfolio of properties as the other share classes.

    For more information on charges, see the FAQ ‘What does it cost’ 

    *Please note that the fund was originally named the ‘TM Hearthstone UK Residential Property Fund’ but changed to ‘TM home investor fund’ on 13th July 2018. Some past performance information or data on other websites may still refer to the fund by its previous name.

    It’s important to remember that returns are not guaranteed, and that past performance should not be used as a reliable guide to future performance.

How does the WealthKernel portal work?

  • How do I withdraw my available funds?

    You can apply to cash-in some or all of your investment on any UK business day from your account dashboard when you're logged into the WealthKernel portal. Under normal circumstances, the money will be cleared into your bank account five business days later. 

    The fund aims to hold 10% to 15% of assets in cash to cover withdrawals and also has a stream of rental income that can be used to meet withdrawals in the short term. Note that in unusual market conditions, there may be a delay in withdrawing money if properties need to be sold. For more information, see this page 

  • How do I close my online account?

    You can request to close your account via the live chat within the client portal. WealthKernel will contact you to confirm your request before starting the process of closing your account. It can take up to 10 working days to complete.

  • What information will I receive after investing online?

    After you have invested through the online portal, Hearthstone works with WealthKernel to ensure you’re kept up to date with the fund’s progress. You will receive regular email updates, and there is a chat service for further questions. Should you wish to opt-out, please check your settings dashboard to manage communications.

  • Can I automatically reinvest dividend income?

    The portal only offers ‘accumulation’ shares, so all income is automatically reinvested and is reflected in the value of the shares you hold in TM home investor fund. 

  • How can I track and manage my investment?

    You can track your performance at any time by visiting the summary page within the online portal powered by WealthKernel.

  • Do you have a minimum investment?

    You can invest from as little as £100 through the WealthKernel portal.

  • How do I add funds to my online account?

    You can add funds at any time by clicking the “Add funds” button on your account summary page within the WealthKernel portal.

  • Do I have to be a UK citizen to invest through the online portal?

    Yes. The online portal provided by WealthKernel only accepts customers over the age of 18 who live in England, Scotland, Wales, Northern Ireland, or the Channel Islands. You will be asked to provide a valid National Insurance number during signup. Note that you should only open a Stocks and Shares ISA if you are resident in the UK and have not opened one this tax year. Otherwise please open a regular account.

    If you’re unable to invest via the online portal, you may still be able to invest through a third-party platform or through your financial adviser. You may also contact us for an application form to invest directly into the fund. 

    TM home investor fund does not accept US citizens, regardless of the potential method of investment

Properties

  • How are the properties valued?

    Legislation for this type of fund means property valuations have to be carried out by an independent valuer. They visit every property at least every 12 months and provide a valuation following that physical inspection. For the other 11 months of the year, the independent valuer provides a ‘desktop valuation’ – meaning that they refer to their last physical inspection and update the valuation according to information they have on properties being bought and sold in the local area. 

    However, property valuation is ultimately a matter of opinion rather than fact. In other words, you can’t guarantee that the price it is valued at will be the price it is sold at.

  • Who lives in the properties?

    Most of the fund’s properties are rented by normal people like you and me. Some are single, some are couples – with and without families. A few of the properties are still used as show homes by housebuilding firms, so those are rented from the fund by the builder.

  • Can I choose which properties I invest in?

    No.

    The pooled nature of the fund means that investors do not have direct ownership of or influence over decisions to buy and sell underlying properties. Instead each investor gets investment exposure to all properties the fund owns.

    By choosing different property types across a variety of locations with a large number of tenants, Hearthstone’s highly experienced team is able to better manage the investment risk for you compared to choosing one or two properties. We are specialists in residential property investment and through close relationships with estate agents and housebuilders, and careful property selection and management, we aim to secure the best properties at the lowest cost to offer the potential for attractive, stable investment performance. 

  • Can I view which properties the fund owns??

    A selection of the properties can be found here 

  • Do you use debt to purchase properties?

    No. All properties are purchased outright with cash. There are no mortgages on any of the properties.

  • How do you select properties to buy?

    The fund’s Property Investment Adviser, Hearthstone, searches for locations offering good rental demand as well as an active re-sale market. We use data from a leading housing research consultancy, and through our strategic partners, Touchstone and Connells Group, we also have access to the trends in rental performance of over 20,000 managed residential properties as well as “grass roots” sales and lettings data from over 500 estate agency branches.

    Hearthstone’s property team has many years’ experience, and vast professional connections with house builders and developers in order to source suitable properties for the fund.

Regulation, Security, Data

  • How secure is the WealthKernel portal and my account?

    WealthKernel considers the security of your personal information to be of the utmost importance and they take several measures to ensure it is kept safe.

    Any information you provide them is transmitted using secure SSL technology with 256-bit encryption. Where they store sensitive information, such as passwords and bank account numbers, they use strong encryption algorithms similar to those used by the major high-street banks.

    They also insist on a minimum password length and require you to use upper case letters, numbers and special characters in your password to make it more secure.

  • What do Hearthstone and WealthKernel do with my personal data?

    Hearthstone and WealthKernel both collect and hold your personal data separately.

    WealthKernel uses your personal data to arrange investments into the TM home investor fund. For example, this means sharing your personal details with a custodian bank to arrange the safekeeping of your investment. From time to time, WealthKernel will also facilitate information and promotional communications on behalf of Hearthstone. You will be given the option to manage these communications in the WealthKernel portal.

    Hearthstone, for example, will use the personal data you provide through the 'contact us' page to provide the information you have requested.

    This website also places cookies on your device which  are used to collect information in an anonymous form about how visitors use the site. We use the information to compile reports and to help us improve the site.

    Terms and conditions and information on data privacy can be found here for Hearthstone and here for the WealthKernel portal.

  • Who audits the fund’s accounts?

    The fund’s auditor is Grant Thornton UK LLP, 30 Finsbury Square, London EC2P 2YU

  • What happens to my investment if Hearthstone stops operating?

    The Authorised Corporate Director (Thesis Unit Trust Management Limited) and the Depositary (NatWest TDS) will decide how best to proceed to protect everyone’s investment in the fund, and whether to appoint an alternative Property Investment Advisor. If the fund is unable to meet its obligations to investors, you may be able to claim for any financial losses under the Financial Service Compensation Scheme, more details of which can be found at https://www.fscs.org.uk/ 

  • How does the online investment legal contract work?

    To invest in TM home investor fund through the online portal, you will enter into a legal agreement with WealthKernel and their custodian bank, Winterflood. WealthKernel will facilitate the investment portion of this process and Winterflood will facilitate the safekeeping. This means Winterflood are responsible for holding your cash and investments safely. The two are separated for enhanced safety of your cash and investments. In addition to being regulated by the Financial Conduct Authority (FCA), Winterflood is part of Close Brothers Group, who have been trading for more than 130 years. 

    The full terms and conditions for investing through the online portal, powered by WealthKernel, are available to view at https://homeinvestor.wealthkernel.com.

  • Is TM home investor fund FCA authorised?

    TM home investor fund is authorised by the Financial Conduct Authority (FCA) as a Non-UCITS Scheme (NURS).

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Looking to retire?

The TM home investor fund can provide returns which are less volatile than stock market investments, with the option to draw down capital as you need it.

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Saving for your first house?

TM home investor fund invests in real 'bricks and mortar' properties, so it can give your savings a chance of keeping pace with house prices.

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Get your child on the property ladder

Over the long term, cash based savings often don't keep up with house prices. That's where TM home investor fund is different because it actually invests in the UK housing market.

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Diversify your investment portfolio

Whether you're an existing or potential buy-to-let investor, TM home investor fund can help spread the risk of your investment portfolio.

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Start growing your investment today!

Now it’s simple to invest in residential property online in a tax-efficient ISA. Start today and make those savings goals a reality.

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