Hearthstone Investments has listed the TM Hearthstone UK Residential Property fund on the Cofunds retail platform. Hearthstone expects financial advisers to be responsible for the largest proportion of new investment into the fund and sees this deal with Cofunds as an important step in broadening the fund’s distribution.
Established in 2001, Cofunds is only available to intermediaries and focuses on service development so advisers can better meet their clients’ investment needs, providing fund choice, fund dealing, information and analysis.
Mark Forman (pictured), distribution director of Hearthstone Investments, says: “I’m very pleased that our fund is now available through Cofunds. As the largest in the sector, Cofunds is the platform of choice for many intermediaries and as such, will extend access to the fund considerably. Residential property is a popular and well understood asset class but one that has not, until recently, been widely available via a regulated fund.”
Michelle Woodburn, head of fund group relations at Cofunds, says: “Hearthstone will provide our clients with considerable access to the UK residential property fund market as it operates the first FCA regulated residential property fund that can also be placed into an efficient tax wrapper. That’s why Hearthstone is a great addition to our ever growing range of boutique fund groups on the platform providing innovative fund solutions.”
The TM Hearthstone UK Residential Property Fund was launched in July 2012 and is authorised and regulated by the FCA. The fund, recently rated by Distribution Technology as a 3 (low risk), offers daily liquidity for retail investors and is eligible for inclusion in most tax wrappers (ISA, SIPP, SSAS, Offshore Bond, etc.)
The fund targets UK house price growth and income from residential lettings. Assets are selected to keep the fund’s overall portfolio approximately in line with the distribution of UK housing stock by both region and by property type.
