Law firm Harcus Parker is weighing up legal action against the Home Long Income fund, sister fund to the beleaguered investment trust Home Reit.
Home Long Income was launched by Alvarium in 2018, two years before Home Reit’s initial public offering.
The fund attracted institutional investors under a similar objective to the investment trust vehicle.
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However, the strategy has suffered similar losses to those incurred by Home Reit, according US regulatory filings from Alti, which assumed responsibility for the fund following Alvarium’s merger with Tiedemann in 2023. The filings revealed the value of the fund had halved to around £200m at the end of last year.
Jennifer Morrissey, partner at Harcus Parker, said: “Reports of the collapse in value and concerns raised about the Home Long Income Fund (HLIF) come as no surprise to us.
“Over the past two years, Harcus Parker’s detailed investigations into its sister fund, Home Reit, have shed light on a number of common issues, practices and connected individuals linking the two entities.
“We are evaluating the situation and next steps, including whether to pursue a parallel legal action against HLIF and are actively speaking to investors about this.”
