The exclusion of Home Reit (HOME) from financial markets has deepened after index compiler FTSE Russell dropped the beleaguered homeless accommodation provider from its UK benchmarks.

Investors have been unable to trade shares in the real estate investment trust, whose accounts are being probed by auditors and policy, after they were suspended in the New Year in response to the four-month delay in publishing its annual results.

Following a 20-day warning on 30 January, FTSE Russell yesterday said it would remove the listed fund, whose shares plunged 70% last year, from the FTSE All-Share index on 2 March.

It will also be taken off the FTSE’s SmallCap, All-Share ex-Multinationals and All-Small indices on Thursday.