Twentyfour Income Share Discussion Threads

[davebowler] 01/9/2022 09:22

Twentyfour Income Fund Ltd has announced that it intends to purchase all of the shares in issue through a tender offer. This will give you the choice to sell (tender) your shares at a fixed price with no dealing charges.

Under the terms of the offer, if you choose to tender your shares it will be at a 2% discount to the NAV per ordinary share, calculated as of the electing NAD determination date, 18 October 2022. Your election may be subject to scaling back.

[stun12] 21/7/2022 14:35

Yield is OK for what should be a low beta stock - though losing 10% of its value since the combination with UKML wasn't too good. The yield was higher on UKML, so hopefully there will be a gradual increase in dividends.

[jong] 21/7/2022 08:49

XD Today. 1.5p per share payable on 5th August.

Annual yield around 6.6% at this price.

[jong] 21/4/2022 08:50

XD today. 2.27p per share paid on 6th May.

[panshanger1] 04/4/2022 16:12

Bit of strength and volume here today

[stun12] 01/4/2022 08:54

To be fair, a couple of those look like the new holding statement after the conversion from UKML as they're odd numbers of shares.

[panshanger1] 31/3/2022 15:07

Yes Nice vote of confidence

[jong] 31/3/2022 14:54

Lots of Director buying at these low prices over the last few days.

[peterbill] 13/2/2022 10:27

From the Sunday Teleghaph ....


With rising inflation and interest rates, there have been some big losses in government bond markets over the last two months, confirming the old truism that even when it comes to government debt, there is no such thing as a “risk free asset” – much as HM Treasury might want you to believe otherwise.

Since the middle of December, for instance, the price of a 10-year UK gilt has fallen by nearly 8pc, more than doubling the effective yield on the security to 1.5pc.

That may not seem much of a loss by the standards of equity markets, where volatility of this magnitude is relatively common, but for government bonds it is a major move, and quite a shock to pension funds required by regulatory dictat to match burgeoning liabilities with assets which are supposedly completely bullet proof - by which regulators mean mainly top rated government bonds.

[ammons] 10/2/2022 09:25

Solid, steady, boring, reliable income.... Sounds good to me. I am holding off through fear of Russia incursion into Ukraine. During 2020 I was not looking at retirement but now I am. This is the sort of share I need to supplement my income.

[scburbs] 10/2/2022 08:37

So an investor in March 2018 hasn’t done very well but is still up (“wonderful investment chap(s)”) and an investor in March 2020 has done really well (wonderful investment chap(s)).

Most investors over the last 5 years have probably purchased between 110 and 120 with the price being relative stable and the dividend yield decent. Solid investment chaps.

[divmad] 10/2/2022 06:37

So, let me see. From Quaestor, a holder since March 2018 has lost 12% in value but received max 24% total dividends? A 3% total return p.a. at most. Wonderful investment chaps.

[cc2014] 09/2/2022 13:54

#125. It depends on whether the fund contains fixed rate bonds or floating rate bonds.

A fund holding fixed rate bonds will fall in price whereas a fund containing floating rate debt should remain unchanged (because if interest rates go up by 0.25%, the rate the bondholder gets charged goes up by 0.25%).


However, that starts from the premise that the bonds the fund holds are appropriately valued and not puffed up beyond all reason by QE. The BOE announced last week it is reversing QE on it's holding of corporate bonds. As it sells these bonds bond prices should all other things being equal fall because supply and demand of bonds is changing.

One also has to consider whether rises in interest rates will cause any defaults on the bonds held in the fund, so very broadly a rise in interest rates by a quarter of a percent makes very little difference but a rise of say 1.5% over a short period of time or a larger increase in rates introduces more credit risk.

[peterbill] 09/2/2022 13:23

Have been looking at this with a view to add to my portfolio. I note that some are some here are leaving because of the proposed merger with UKML ...



I note that on their website they say ... “Due to the predominantly floating rate nature of the portfolio, returns are expected to increase as interest rates rise.”

Central Banks raising interest rates to combat inflation should have an adverse effect on the corporate bond/debt market ... won’t this have a negative impact on the share price?

[cc2014] 08/2/2022 17:40

This is a great deal for UKML shareholders but doesn't seem so great to me for TFIF holders.

I will be interested to see if this goes through or whether TFIF shareholders vote against it or continue to sell out.

[panshanger1] 08/2/2022 13:58

Market not overly impressed ATMStill if we can get a meaningful reduction in the charges should be of benefit in the long term Sizeable trust following merger

[boystown] 08/2/2022 09:01

Same here - and my income just went up to 6pps too - so effectively 7.5% for anyone buying UKML today at 80p all being well?

[future financier] 08/2/2022 08:21

Looks like I will soon be joining you guys assuming acquisition of UKML goes through.

[cwa1] 13/1/2022 16:36

Re: Dividend Announcement

The Directors of TwentyFour Income Fund Limited have declared that a dividend
will be payable in respect of quarter end 31 December 2021 as follows:

Ex Dividend Date 20 January 2022

Record Date 21 January 2022

Payment Date 4 February 2022

Dividend per Share 1.50 pence (Sterling)

[peterbill] 06/12/2021 17:35

"The Portfolio will comprise at least 50 Asset Backed Securities at all times."

Looking at adding some here. Did look at the Questor article mentioned above when the yeild was 6.2% - they do look attractive for my income portfolio.



Wasn't there a problem with USA asset backed securities in 2007/2008? Mass defaults? I guess it won't happen again ;-)

[cwa1] 14/10/2021 12:45

The Directors of TwentyFour Income Fund Limited have declared that a dividend will be payable in respect of quarter end 30 September 2021 as follows:

Ex Dividend Date 21 October 2021

Record Date 22 October 2021

Payment Date 5 November 2021

Dividend per Share 1.50 pence (Sterling)

[badtime] 28/8/2021 10:25

Buy rec in today's Questor

[cwa1] 11/8/2021 10:40

Indeed, progressing quietly and nicely in the background. Very happy so far

[panshanger1] 11/8/2021 10:36

Bit under the radar here but new 52 week high Now on a small premium Decent management- happy to hold and collect dividends GLA