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TwentyFour to raise £40m for popular debt trust

TwentyFour to raise £40m for popular debt trust

Popular debt trust TwentyFour Income is hoping to raise a further £40 million.

The closed-end fund launched in March and pulled in £160 million at its initial public offering (IPO), having been backed by the likes of PSigma Investment Management, which seeded it with £38 million.

With ambitions to grow its size, the TwentyFour Income fund, which invests in European asset backed securities, will seek to raise the funds via a secondary issue.

According to its first monthly update, TwentyFour's trust should be 'substantially invested' within three months, and its net asset value has grown by 5.4% since its IPO.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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