Interim Management Statement

RNS Number : 9051L

TwentyFour Income Fund Limited

16 August 2013

 



TwentyFour Income Fund Limited

Interim Management Statement (Unaudited)

For the four months ended 31st July 2013

16 August 2013

This interim management statement relates to the four months from 1st April 2013 to 31st July 2013 and contains information that covers that period, unless otherwise stated.

Financial Performance - Cumulative Total Return*

	1 Month	3 Months	Financial YTD
Share price	0.23%	3.58%	4.20%
Net asset value	2.01%	3.73%	5.06%

*total return with net dividends reinvested

Source: Bloomberg/TwentyFour AM

Financial position

As at 31st July 2013  

Total assets	GBP 191.5m
Share price	107.25p
Net asset value	102.01p
Discount/Premium	5.14%
Gearing	0%
Subscription share price	100p on IPO

Share prices shown are closing mid

Source: Bloomberg/TwentyFour AM

Material Events

During the period the Company paid a dividend to shareholders of 1.25p per ordinary share.

Material Transactions

Changes to share capital

	Ordinary Shares
As at 1 April 2013	150,000,000
Shares bought back and cancelled	-
Shares bought back into Treasury	-
Shares cancelled from Treasury	-
Shares issued	37,765,750
As at 31 July 2013	187,765,750

Portfolio Analysis

Ten largest holdings as at 31st July 2013

Security	Sector	WAL	% of Total
WHINSTONE	Prime RMBS	7.97	4.59 %
MERCT I-X	Lev Loan CLO	5.69	4.10 %
ESAIL 07-NL2	Non-Conforming RMBS	11.81	4.02 %
DOLPH 2010-3	Prime RMBS	1.89	3.95 %
EMACP 07-NL4	Prime RMBS	13.19	3.57 %
BANKP I	Peripheral SME	6.87	3.48 %
EUROC VIII-X	Lev Loan CLO	4.87	3.45 %
ITALF 07-1	Leases	2.60	3.15 %
BCJAF 6	Peripheral RMBS	6.72	2.91 %
LUSI 4	Peripheral RMBS	6.65	2.87 %

Sector breakdown as at 31st July 2013

Sector	% of Total
RMBS	50.68 %
CLO	31.02 %
SME	7.97 %
Leases	3.09 %
Consumer	2.63 %
CMBS	1.50 %
CDO	0.75 %
Cash	2.35 %
Total	100.00 %

Enquiries

TwentyFour Asset Management LLP

John Magrath

020 7015 8912

[e-mail]

Numis Securities Limited

Nathan Brown / Hugh Jonathan

020 7260 1426 / 020 7260 1263

[e-mail] / [e-mail] 

This interim management statement has been prepared solely to provide information to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

A monthly fact sheet is produced with respect to the Company, which is available on the Company's website: www.twentyfourincomefund.com.

 

END

 

 

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