Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and 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
Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter