Twentyfour Income Share Discussion Threads

[panshanger1] 16/1/2025 08:34

Ex div today

[mr roper] 13/1/2025 08:17

Thanks egg..bot sure if that a compliment..suspect 75% of the UK would make a better PM than the present one...lol

[eggbaconandbubble] 10/1/2025 10:51

Thanks guys. Roper - I think you'd make a better PM than the present incumbent!!!

[tag57] 10/1/2025 09:56

Egg, the share price could certainly take a hammering in the event of a financial crash due to sentiment and panic. This is not necessarily representative of the underlying business and debt write offs are usually no where near the share price drop, and therefore should bounce back once confidence returns to the markets.
A look back to 2007-9 is probably a good starting point but as ever, DYOR.

[mr roper] 10/1/2025 09:27

Don't think so...TFIF has wider exposure than just UK. Credit and liquidity are mostly private not sovereign.

If there's a contagion all gets battered but this doesn't look like a sovereign debt crisis yet. Basically it's easy to get out of...reduce spending...remove the NI hike and go for growth in action not words

[eggbaconandbubble] 10/1/2025 08:45

Do you think the share price here will be seriously affected by the almost certain financial crash the Labour party will cause?

[mr roper] 10/1/2025 08:34

Nice. Divi due end of the month.as well.

[panshanger1] 08/1/2025 09:18

52 week high

[badtime] 16/12/2024 20:52

Was thinking the same ...it says all or part of..so when are they suggesting you buy them back if sold all.....but why sell any every three years..puzzling

[eggbaconandbubble] 16/12/2024 13:46

Why sell every three years???

[davebowler] 16/12/2024 12:52

Investec-
TwentyFour Income Fund (TFIF) – TFIF, which invests in UK and European Asset Backed Securities, published their latest factsheet and commentary. The fund had a challenging 2022 with NAV per share (including dividends) down 8.8% but since then has performed impressively returning 20.4% in 2023 and 15.8% YTD with three-year volatility at 7.4%. The dividend is currently over 9%, current mark to market yield is 11.6%. The manager highlighted November was a busy month as the team deployed amortisations opportunistically. While geopolitical risks continue, the PMs remain constructive on spreads. In the CLO market, the team continues to focus on BBs in the primary market, adding at spreads of 6% over Euribor, where yields have remained attractive on a historical basis. Following the turnaround in performance, TFIF certainly has credibility with a strong specialist team managing over £20bn in assets. Although the narrow discount doesn’t jump off the page given others on offer, we would highlight shareholders may elect to realise all or part of their holdings every three years.

[tradertrev] 21/11/2024 11:55

Did anyone tune in to the IMC results presentation yesterday? Any particular highlights worth noting please?

[eggbaconandbubble] 15/11/2024 16:43

Thank you Trev - much appreciated!

[tradertrev] 15/11/2024 12:32

If consumer credit quality deteriorates badly (mortgages, car loans, credit cards) these would probably struggle as credit spreads would widen.

[eggbaconandbubble] 15/11/2024 11:53

Both these and SMIF appear very popular at the moment.

I'm not normally a pessimist but can anyone point out possible downsides here so i am prepared to bail if and when necessary. Cheers in advance.

PS. Thanks tony!

[tonysss13] 08/11/2024 18:58

closing auction uncrossing trade (UT)

[eggbaconandbubble] 08/11/2024 16:37

Why does a large 'sell' contract always go through at 16.35 every day? Anyone?

[mr roper] 11/10/2024 13:15

Yup. Added a few more. Great yield and still trading at a discount

[badtime] 10/10/2024 16:00

Another 2p per share coming soon

[panshanger1] 04/8/2024 17:05

Had this in my SIPP for many years too Have to say NYCF has performed almost identically over that time ( although normally on a premium)

[cowie19] 04/8/2024 13:47

TFIF just keeps giving, held in ISA so very nice.

[badtime] 18/7/2024 12:42

Ex div day

[spangle93] 11/7/2024 11:40

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