FSA gives thumbs up to landmark residential property fund
Residential property fund managers David Gibbins and Lucy Hawkins will manage the fund, with the aim of tracking the House Price Index by investing in private rented sector housing across the UK.
Hearthstone’s target for the fund is £250 million in the first 24 months of launch, rising to potentially more than £1 billion in the longer-term.
So will this drive up prices of property and rents at a time when more people are struggling to manage financially, or will it be a lame duck and no one want to invest in housing?
Is this a shoe shine boy moment?