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Hearthstone launches residential property fund

Michael Trudeau
Hearthstone launches residential property fund - fund - residential property - Hearthstone - Invesments - Industry - USA

New fund aims to tap into £4,000bn residential property market, in a “first of its kind” move.

Residential fund manager Hearthstone Investments has received approval from the Financial Services Authority to launch a regulated residential property fund.

Claiming to be the first of its kind in the UK, the TM Hearthstone UK Residential Property Fund will be open to individuals with Isas and self invested personal pensions with a minimum investment of £1,000 through to large-scale pension schemes.

David Gibbins and Lucy Hawkins, residential property fund managers, will manage the fund, aiming to track the Acadametrics House Price Index by investing in private rented sector housing across the UK.

Hearthstone aims to give the fund a soft launch this summer and fully roll it out by September 2012.

The company’s target for the fund is £250m in the first 18-24 months of it going live, rising to potentially more than £1bn by year five as support for the residential funds industry becomes more widespread.


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