RM Funds tables proposal to replace Alvarium as Home REIT's investment adviser

Indicative support of 30% of shareholders

RM Funds, the Edinburgh-based real assets and credit manager, sent out a proposal to Home REIT’s board to replace Alvarium as its investment adviser on Monday night (27 February).

Pietro Nicholls, lead portfolio manager of the VT RM Alternative Income fund and former manager of the RM Infrastructure Income trust, told Investment Week that around 30% of the shareholder base had shown "indicative" support for the proposal. "What we are talking about here is a proposal that needs a multidisciplinary approach. It needs a team of people that understand housing associations, construction, property, finance and credit litigation. And that is why we have put ourselves forward for it," he said.  "This company has an image issue if nothing else right now. Its share price...