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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Twentyfour Select Monthly Income Fund Limited | SMIF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 85.00 | 16:35:22 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 85.20 | 84.60 | 85.20 | 85.00 | 85.00 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 18/11/2024 12:08 by marktime1231 SMIF holding up strongly never mind the gilt market behaving, a premium 1 million issue at 85.15p on Friday shows there is continuing demand from serious investors. The asset team must be busy trying to find fresh debt opportunities to keep enhancing the outlook.Amused to read an FT interview with foul-mouthed HL founder Peter Hargreaves last week in which he admitted promoting the Woodford fund was a mistake (not of his making of course). Defended HLs decision to keep pushing the fund to its customers with the idea that if they had dropped it the collapse would have been ruinous. So it deliberately kept selling us what it knew to be a dog? Curiously the FT didn't mention HL is facing £200M+ compensation claims. Nor did the FT observe as they ought to have done, when Hargreaves tipped the Blue Whale growth fund, that he is the dominant founding investor and Chairman. The clue as to what lies head for HL under CVC ownership was hinted at in the article. Hargreaves said management had lost its way on both cost control and profit margin, and were now losing the marketing battle which is how it rose to No 1. Watch out for HL finding even more tricky ways to make money from us. And smoochy ads persuading us to trust them. |
Posted at 29/10/2024 14:42 by eggbaconandbubble KIID. Key Investor Information Document |
Posted at 16/8/2024 12:19 by lord gnome You are right Marksman. Sit tight and ignore the offer. It's not meant for PIs. This is for institutional investors who might wish to sell a sizeable amount when trying to do this through the market would wreck the share price. |
Posted at 09/1/2024 14:08 by marktime1231 Really hard knowing who to trust to move my ISA to, I will of course let you all know what I decide to do and when.Back on topic, pleasing to see SMIF taking advantage of its recently re-acquired premium to issue a big chunk of shares from Treasury to meet insti demand. Perversely this has the effect of cooling open market prices, but I still expect private investor enthusiasm and NAV recovery to push us back up in to the 90s this year. Remember the teaser that we can expect another bumper final dividend to be announced in October, at 80p the prospective yield is probably nearer 8.5-9% than the nominal 7.5% from 0.5p per month. Inevitably sentiment about the direction and pace of interest rates will wobble, so it may not be a straight line recovery, but a long term income investor buying in at this level will be well rewarded. |
Posted at 15/12/2023 18:02 by marktime1231 An impressive final report today, the board teeing up the "achievable" prospect of another bumper final dividend next year to follow the exceptional one this year. Choosing not to highlight that NAV has gained another 1.5p since 30 Sept.The 5 million or so shares tendered last year at the 2% discount to NAV makes you wonder what more investors could possible want from SMIF to be quitting at such a daft time in the cycle. Current progress indicates a slow but steady return to a small premium, so the manager can hope to offload those shares repurchased in to Treasury in the months ahead and resume the issue of fresh shares too. Portfolio expanded to over 160 holdings which seems like a lot, there must be some real tiddlers, the message whether this is for value opportunity or lower credit risk has become a bit confused. The manager's economic outlook is reaffirmed as a "softish landing" ... the UK will suffer a mild recession over the next few quarters, so there will be more unemployment and business defaults, without commenting on whether any of the assets in the SMIF portfolio are at particular risk. Anticipating a rate cut later in 2024. Which may prove to be a rather conservative view. |
Posted at 14/10/2023 09:56 by lord gnome Yes Taylor. I moved my accounts to ii several years ago. Mostly ok, but Barclays managed to lose my largest holding and I had trouble getting them to believe me when I complained. I was paid a token amount in compensation. Barclays once had all my business but when they introduced their Master Investor (sic, whatever ) product they went from best to worst overnight.? |
Posted at 12/10/2023 20:57 by tayle Have investors received the most recent dividend payment ? Usually paid to my account ding done on the bell. However, recently this and other dividend payments stretched out, still paid within 10 days. Is someone else benefitting interest wise by paying late ? |
Posted at 09/8/2023 07:19 by spangle93 Pretty close to an ISA's worth of share purchases for a NED yesterday |
Posted at 10/5/2023 10:33 by marktime1231 Is that a bit harsh? Criticising SMIFs total return over ten years while it is temporarily (!) at the bottom of a trough caused by the tripple whammy of increased uncertainty of defaults as interest rates have risen, Truss-Kwarteng suddenly making low-risk debt attractive on a risk-reward basis, and the recent CS AT1 default. It does not help that SMIF is primarily invested in finance sector debt where the pain is most acute.To illustrate the consequence its major holding in Nationwide 10.25% notes has fallen from 160p+ to 120p-. But no-one is seriously expecting Nationwide to default, are they, in a scenario where economies suffer no worse than a shallow recession, employment rates are holding up, and where interest rates stabilise and then fall back? Until recent events SMIF was still trading at a healthy premium and was expanding rapidly thanks to the availability of bargains and strong corporate investor demand. I imagine income performance to be excellent as a result. In more normal times SMIF has typically traded around the mid-90s, you would make your money back in the first year. That said my holdings are underwater, and would be deeply loss-making on paper but for trading the average price down to around 80p. If you had the umph to invest in SMIF in the low 70's what would you be saying about total returns in two or five years time when the share price has restored to the 90s? The unusual discount is inviting right now, you can buy some under 72p this morning which would otherwise be trading at 80p. An ideal get rich slowly scheme. I will continue to invest here as funds become available. |
Posted at 20/3/2023 08:51 by return_of_the_apeman CS not listed in their top 20 holdings as per the interim report on 30 Sept 2022 so would be less than 1.09% if they did.A full portfolio listing can be obtained on request to the administrator via email or perhaps call investor relations |
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