Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

TwentyFour targets £150m for monthly income trust

TwentyFour targets £150m for monthly income trust

TwentyFour Asset Management is looking to raise up to £150 million for an investment trust that will offer monthly dividends.

The TwentyFour Select Monthly Income fund will target a total return of 8-10% a year, including a 6p annual dividend.

The managers intend to build a high-conviction portfolio of 50-75 positions and expect to extract premium returns by focusing on lower liquidity securities, such as small debt issues. These are unsuitable for daily traded funds and are therefore attractively priced.

The trust will use hedging instruments to manage duration, which is expected to be around two years initially.

TwentyFour launched an Income trust in March 2013, which has already attracted £300 million of assets. Since inception it has returned 21%, compared with an average of 1% from its AIC Debt sector.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
1 Comment Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Play CEO Tapes: 'we're just a bunch of white dudes sitting here'

CEO Tapes: 'we're just a bunch of white dudes sitting here'

In our brand new series, eight CEOs discuss how the industry could do a better job for female fund managers.

Read More
Wealth Manager on Twitter