The board has instead selected Atrato Partners to replace Triple Point.

This appointment is subject to a new investment management agreement being agreed upon, the details of which will be announced in due course.

However, the board added in an RNS that this agreement “will deliver significant cost savings while maintaining the existing high levels of service provision”.

The formal transition of investment management is expected to occur in January 2025.

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According to the trust’s website, it has funded 493 properties with a portfolio of 3,455 homes. This portfolio has an IFRS valuation of £675.1m.

“The board would like to thank Triple Point for their support and the consistent operational performance of the company since IPO,” said Chris Phillips, chair of the trust.

“Triple Point’s commitment has been reflected in their constructive approach taken to the independent review of investment management arrangements and the proposed transition of services to Atrato.”

The independent review was announced in May 2024.

Prior to that, an update from Edison Investment Research found that the REIT’s shares were trading at a 50% discount to NAV.