Hearthstone Investments has launched new retail share classes in its Property Authorised Investment Fund (PAIF) which are fully RDR compliant.
These are available to retail investors via third parties including intermediaries, institutions, platforms and their nominees.
Two new “unbundled” retail share classes (gross and net) have been launched which each carry competitive residential property fund pricing and features as follows:
• 0.9 per cent annual management charge
• No initial setup charge
• Minimum investment of GBP1,000
• Subscriptions available daily
• Redemptions available daily
• Special terms available to retail investors with GBP100,000 or more to invest
The new share classes are additional to the existing pre RDR retail (gross and net) and institutional (gross and net accumulation and net income) share classes.
Mark Forman (pictured), distribution director at Hearthstone Investments, says: “As RDR gets underway, we are very pleased to launch fully RDR compliant new share classes in the Hearthstone Investments PAIF, which is a unique residential property investment fund. The new share classes complement our existing retail and institutional share classes and mean we offer a full and unique investment option into the UK residential property sector.”