TwentyFour Update

14 June 2023

TwentyFour Select Monthly Income Fund Limited

TwentyFour Select Monthly Income Fund Limited (the "Company") was incorporated with limited liability in Guernsey, as a closed-ended investment company on 12 February 2014. The Company's shares were listed with a Premium Listing on the Official List of the UK Listing Authority and admitted to trading on the Main Market of the London Stock Exchange ("LSE") on 10 March 2014.

Re: TwentyFour Update

TwentyFour Update

The Portfolio Manager of the Company, TwentyFour Asset Management ("TwentyFour" or "the firm"), can announce that Gary Kirk and Rob Ford will be retiring from the partnership in September, and transitioning to advisory roles at the firm.

Having helped co-found the business in 2008, they have been in discussion with the other partners for some time about stepping back from their day-to-day roles.

Gary has been co-managing the Multi Sector Bond investment team, including the Company, since it was launched in 2009, and it has subsequently grown to 5 partners (including Gary) and 10 further investment professionals, adding Danny Zaid in 2021 and both Lee Crooks and Adel Ahmed in 2022.

During his time at the firm, Rob has co-managed a number of TwentyFour's ABS product lines, most recently UK Mortgages Ltd which was launched in 2016 and subsequently merged into TwentyFour Income Fund Limited last year, and is now managed by the wider 10 person ABS team led by Doug Charleston and Aza Teeuwen.

Gary and Rob will step off TwentyFour's Investment Committee, which sets the top-down macro risk appetite for the firm, but the remaining 10 members have an average industry experience of 20 years and tenure at the firm of 12 years.

Ben Hayward, CEO of TwentyFour, said "I would personally like to thank Gary and Rob for their contribution to the growth and success of the firm. They have both embodied the character of TwentyFour from the start, bringing market expertise, seeking to deliver the best outcomes for our strategies, and keen to impart their knowledge to our growing investment teams as well as clear communication to our investors."

Claire Whittet, Chair of TwentyFour Select Monthly Income Fund, said "the Board would like to thank Gary for his contribution to the Company since its launch in 2014. We have enjoyed working with Gary, and we are confident that he has imparted his experience and knowledge throughout the rest of the TwentyFour team.".

For further information, please contact:

Numis Securities Limited:

Nathan Brown             [phone]

Hugh Jonathan

TwentyFour Income Fund Limited:

John Magrath              [phone]

Alistair Wilson

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