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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Twentyfour Income Fund Limited | TFIF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.20 | -0.18% | 112.40 | 16:35:23 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 112.20 | 112.00 | 112.60 | 112.40 | 112.60 |
| Industry Sector |
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| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
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Posted at 07/2/2025 09:17 by killing_time They said it at the Investor meet Interim results on 20th Nov.The bonus will be roughly the same or maybe slightly lower, as they have had a really good year but as you say with rates falling the final bonus will start to drop in future years. |
Posted at 11/7/2024 11:40 by spangle93 Couldn't find the Monthly Factsheet on the Retail site, so I had to be a financial adviser ;-)Outlook The market will be focused on electoral results and economic data in July. The continuing strong fundamental performance in the UK and Europe has increased the likelihood of significant cuts being delayed in the UK, and the ECB is expected to pause over the summer. Spread products continue to perform well, and, with contained geopolitical escalation and a lack of sharp macroeconomic decline, we expect this strong supply/demand technical to persist in the medium term. The portfolio managers expect the current strength in both supply and demand to remain in place; however, we think upside is more limited considering the significant tightening seen across different products year to date. We also notice that the tiering has contracted significantly, and we do not think investors are rewarded for going down in quality. In the longer term, we continue to see geopolitical risk as the key risk for market volatility and, while the portfolio managers do not see a catalyst for short-term volatility, they value flexibility and continue to see the attractiveness of AAAs (particularly in UK prime and CLOs) as well as shorter mezzanine investments |
Posted at 06/7/2024 08:42 by spangle93 TFIF presentation on Investor Meet this coming Thursday (11th) at 1pm BST |
Posted at 21/6/2024 15:05 by riverman77 TwentyFour Income FundThere are only a handful of stocks in the FTSE 100 with a dividend yield that is close to double digits, but the FTSE 250, with its many investment trusts, has more to offer. The TwentyFour Income Fund ranks among its highest, with a yield of 9.7 per cent. This reflects a riskier approach than some of the more traditional income-focused funds on the market. The trust invests in less liquid, higher-yielding British and European asset-backed securities, the majority of which are floating rate, which has benefited shareholders as interest rates have risen. Asset-backed securities are different from conventional bonds, such as government or corporate bonds, because they are secured against a diversified pool of other loans with similar characteristics. Just under half of the portfolio is in RMBS, or residential mortgage-backed securities. Its second largest allocation is in CLO, or collateralised loan obligations. About two thirds of its debt matures in one to three years and a quarter in three to five years. Just under half of the debt in its portfolio is rated as B or BB credit rating. The managers’ official aim is to pay a dividend of at least 8p per share each year, and a net total return of 6p to 9p each year. The trust does not come cheap, with a management fee of 0.75 per cent of the lower of either its net asset value of market capitalisation. One could argue that this is fair given that the area in which the managers operate is relatively under-researched. The shares currently trade at a 6 per cent discount to their net asset value, although TwentyFour Income’s yield alone may be enough to draw in some investors. However, investors should note that since it was launched in 2013, the fund has only delivered a cumulative 7.6 per cent in net asset value per share, including dividends, as of the end of April, which seems relatively modest. Given the complexity of its portfolio, not to mention the absence of a fund benchmark index, a very healthy dose of caution is warranted. Advice Hold Why High yield reflects risky, complex portfolio |
Posted at 14/5/2024 10:00 by tradertrev While it's useful input for an investor holding/contemplatin |
Posted at 06/5/2024 19:15 by njb67 You are welcome. These were lifted from the notes I make on all my holdings - these describe my rationale for each investment - so it only took me a few minutes to pull together some hopefully salient points.I have been investing around 40 years now, and have learned a lot along the way. I have made plenty of mistakes too. In the 1980s, when the government privatised a lot of industries, I was a 'stagger', applying for stock and then selling at a premium on the first day of trading. That worked well. Had my penny share stock phase next, blindly following tip sheets and losing most of my money. In my 30s when I could afford to invest again, I started buying funds and did reasonably well. The game changer for me was discovering value investing - in my early 40s. There was a poster on ADVFN (JTCOD), who had his own bulletin board, where he had links to value investing literature, and published the investment cases he built for each of his holdings. It taught me a lot about an investing style and an approach to stock selection that worked well for my personality (analytical and increasingly risk averse). So posting a few hopefully useful things here is me repaying those I have learned from over the years. I am neither qualified nor would presume to give you investment advice. My only concession to that position is I believe that you need to find what works best for you and your financial needs. Our investment goals will likely be different. Some investors are prioritising growth, for some like me reliable income is the priority, for others a mix of the two. Some of us are prepared to speculate to accumulate, some want to minimise the risk of capital losses. Some have a short investment time frame, others much longer. How much time you are prepared to invest to make investment decisions is a personal thing too. Individual stocks take most time, funds less, and trackers the least. I personally like the investment case approach - researching and writing down my reasons why I have invested money in individual holdings. For all of my holdings, I define triggers that will lead me to increase, reduce or sell out. I spend 99+% of my time doing my research, and <0.1% buying and selling. I have already planned what I will do with the dividends I am not withdrawing through to the end of the financial year (adding to a Japan position), and have a couple on the watch list should I be able to swap them for existing holdings if this increases my total dividend payout. It works for me. For investment trusts, I find the AIC website invaluable. The screener function under research tools is a great way to compare the different investment trusts that have a similar investment focus. I also read the monthly fact sheets/commentary and annual/half yearly reports for each of my holdings and those on my watchlist. Good luck. hxxps://www.theaic.c hxxps://www.twentyfo hxxps://www.twentyfo hxxps://www.invesco. |
Posted at 06/5/2024 17:09 by njb67 eggs - I believe I have been very clear in my posts that I am using the company annual target dividend rather than what was actually paid to calculate the yield for TFIF (and also SMIF).TFIF dividend has not gone up year on year, it fell in 2017 (6.99p/s) vs 2016 (7.14p/s). It was 7.23ps in 2018 but 6.45, 6.40 and 6.10ps in the next three years. The last three years have seen increases. In every year since IPO, TFIF has paid out more than its dividend target, 6p/s until recently when it increased to 7p/s and now 8p/s. As an income investor, the dividends on my holdings cover my living expenses. My portfolio contains holdings that I am confident, on past performance, will pay me a reliable and increasing dividend. I therefore use the target dividend when calculating forward yield. That way any extra paid out above the target is a bonus. I much prefer this to expecting TFIF to increase the dividend year on year, to then be disappointed when it falls like in 2017, 2019, 2020 and 2021, with a lower level of income than I expected. |
Posted at 06/5/2024 16:19 by njb67 Worth understanding how the different funds vary.TFIF holds UK/EU asset backed securities. Around 25% of their holdings are classed as investment grade (AAA-BBB), the remainder is classified as high yield, or "junk" bonds due to higher risk of issuer defaults. 45% is rated as BB-B and 25% C, or lower or not rated at all. Current yield (based on company published dividend target) is 7.8%. They have hit their published dividend target every year since IPO. BIPS holds mainly corporate bonds, with a rough split of one third UK, one third EU and one third rest of the world. They hold a higher percentage of investment grade bonds (32%) and BB-B bonds (63%) than TFIF, with less than 10% rated C or lower, or not rated. Current yield is 6.8%. They have maintained or increased their dividend for the last 10 years. SMIF holds a range of UK and EU fixed income credit securities, including asset backed securities, corporate bonds, high yield bonds, bank capital, Additional Tier 1 securities, payment-in-kind notes and leveraged loans. Around 26% is considered to be investment grade, 60% BB-B and 14% C or lower or not rated. Current yield is 7.8%. Like TFIF they have hit their annual dividend target every year since IPO. NYCF appear to be firmly in the high yield/junk sector. They do not publish a ratings summary, and as far as I can tell, they focus on higher risk, higher rewards debt. Current yield is 8.8%. They have increased their dividend for the last 16 years, albeit recent increases have been very small. Rather than selecting one holding, it may make sense to spread your asset and geographic risk by taking smaller positions in a range of different investment trusts. These are the four that I hold, as my focus is on reliable income streams. There are Trusts with higher yields that I have passed over, mainly due to their track record of delivering predictable income streams over time. These may appeal to investors with a greater risk tolerance than me. |
Posted at 03/5/2024 16:00 by tradertrev ...but the investor updates say the portfolio has a running yield of much more than 10% and the shares are at a discount to the NAV of the portfolio, so that targetted 8p dividend does look very conservative. |
Posted at 13/11/2023 11:17 by mcunliffe1 I secure-messaged Interactive Investor and they have responded to state that TFIF has recently been removed from the DRIP scheme 'due to its complexity'. |
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