Home REIT blames investment adviser following internal probe

Alvarium

The Home REIT board has claimed it was left uninformed by its investment adviser Alvarium, following an internal probe into alleged wrongdoings.

The probe, which was conducted by Alvarez & Marsal Disputes and Investigations (A&M), found that Alvarium did not inform the board about arrangements for refurbishment of properties or problems around overdue rent. In a stock exchange notice today (30 May), the Home REIT board said this lack of transparency hampered its ability to assess the company's financial strength.  'Lack of information and clarity' remains following Home REIT investment manager appointment The trust has not released the report in full, which was first announced on 16 February after the board said it had ...