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About the company
TwentyFour Income Fund Limited is a closed-ended investment company. The Company operates through investments in Asset Backed Securities segment. The Company’s investment objective is to generate attractive risk-adjusted returns principally through income distributions. Its investment policy is to invest in a diversified portfolio of predominantly United Kingdom and European Asset Backed Securities. No more than 20 % of the portfolio value will be backed by collateral in any single country. No more than 10 % of the Portfolio value will be exposed to any single Asset Backed Security or issuer of Asset Backed Securities, but provided that where more than 5% of the portfolio value is exposed to a single Asset Backed Security, these Asset Backed Securities in respect of which more than 5 % of the Portfolio value is exposed, may not, in aggregate, make up more than 40 % of the total Portfolio value of the Company. Institutional Services Limited is its alternative investment fund manager.
- Revenue in GBP (TTM)129.47m
- Net income in GBP121.12m
- Incorporated2013
- Employees0.00
- LocationTwentyFour Income OrdTrafalgar Court, Les BanquesPO Box 255SAINT PETER PORT GY1 3QLGuernseyGGY
- Phone+44 1 481745001
- Websitehttps://www.twentyfouram.com/view/GG00B90J5Z95/twentyfour-income-fund#overview
Profile
| Management group(s) | TwentyFour Asset Management LLP |
|---|---|
| AIC sector | Debt - Structured Finance |
| ISIN | GG00B90J5Z95 |
| Launch date | 06 Mar 2013 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
Objective
To generate attractive risk-adjusted returns principally through income distributions by investing in a diversified portfolio of UK and European asset-backed securities.The Portfolio will comprise at least 50 Asset Backed Securities at all times.
Managed by
| Aza Teeuwen, Douglas Charleston, John Lawler, Marko Feiertag, Robert Ford, Elena Rinaldi |
|---|
Management & contract fees
Management fee of 0.75% of lower of NAV and market cap. Agreement is terminable on notice period of 12 months.
Peer analysis
| Company | Revenue (TTM) | Net income (TTM) |
|---|---|---|
| Jpmorgan European Discovery Trust PLC | 40.54m | 28.24m |
| SDCL Energy Efficiency Income Trust PLC | -94.90m | -106.20m |
| European Smaller Companies Trust PLC | 91.68m | 78.68m |
| Apax Global Alpha Ltd | 60.18m | 46.00m |
| VinaCapital Vietnam Opportunity Fund Ltd | 160.42m | 127.75m |
| JPMorgan Japanese Investment Trust PLC | 61.35m | 52.82m |
| Schiehallion Fund Ltd | 62.33m | 54.14m |
| TwentyFour Income Fund Ltd | 129.47m | 121.12m |
| Temple Bar Investment Trust PLC | 95.11m | 86.83m |
| Schroder AsiaPacific Fund plc | 34.21m | 21.90m |
| Syncona Ltd | -144.46m | -165.38m |
| ICG Enterprise Trust PLC | 43.44m | 17.37m |
| NB Private Equity Partners Ltd | 52.27m | 21.62m |
| Patria Private Equity Trust PLC | 80.15m | 60.96m |
| Global Smaller Companies Trust PLC | -20.41m | -28.39m |
| Oakley Capital Investments Ltd | 57.09m | 47.49m |
Institutional shareholders
| Holder | Shares | % Held |
|---|---|---|
| Investec Wealth & Investment Ltd.as of 23 Nov 2023 | 76.32m | 10.21% |
| TwentyFour Asset Management LLPas of 22 Mar 2024 | 37.66m | 5.04% |
| Aviva Investors Global Services Ltd.as of 27 Feb 2024 | 36.96m | 4.94% |
| East Riding of Yorkshire Council (Investment Management)as of 13 Jun 2023 | 26.06m | 3.49% |
| Premier Fund Managers Ltd.as of 30 Nov 2023 | 23.61m | 3.16% |
| Baillie Gifford & Co.as of 31 Mar 2024 | 23.23m | 3.11% |
| FIL Investments Internationalas of 31 Mar 2024 | 23.07m | 3.09% |
| Border to Coast Pensions Partnership Ltd.as of 30 Sep 2023 | 21.06m | 2.82% |
| Waverton Investment Management Ltd.as of 31 Jan 2024 | 12.67m | 1.69% |
| BlackRock Investment Management (UK) Ltd.as of 31 Mar 2024 | 10.47m | 1.40% |
