Webinar

TWENTYFOUR SELECT MONTHLY INCOME FUND LIMITED

(a closed-ended investment company incorporated in Guernsey with registration number 57985)

Webinar - 4th February 2016

The TwentyFour Select Monthly Income Fund Limited will today hold a webinar to provide an update on the Fund. The following points will be discussed in the presentation:

The Fund consists of a diversified portfolio of 82 bonds:

  • Average Rating B+
  • Interest Rate Duration = 2.2 years
  • Credit Duration = 4.1 years
  • Dividend yield = 7.05%
  • Purchase yield = 8.31% (gross)
  • Mark to Market Yield = 10.44% (gross)

Current portfolio positioning:

ABS 34.01
HIGH YIELD - EUROPEAN 29.66
BANKS 26.17
INSURANCE 8.59
HIGH YIELD - US 0.96
CASH 0.62
  • The portfolio contains very healthy levels of yield
  • The securities are generally short dated which promotes a pull to par with ageing
  • Fixed income markets are currently already pricing in a recession which we do not see at either the macro level or at the bottom up level
  • While markets are currently dislocated we cannot suggest that this is the bottom, however we do think that credit yields have overshot and will be tighter by year end
  • Gives us an opportunity for both yield and capital gain
  • Adding incremental size to the current portfolio would certainly increase the distribution yield


The webinar presentation will be available following the event at:www.twentyfouram.com/news-and-media/articles

For further information contact:

TwentyFour

John Magrath                                                    +44 (0)20 7015 8900

Numis

Chris Gook                                                          +44 (0)20 7260 1378

UK 100