Twentyfour Select Monthl... Share Discussion Threads

[my retirement fund] 12/12/2024 15:21

yes very respectable

NAV per share increased 10.95% to 83.70 pence (2023: 75.44 pence)
The NAV total return per share was 22.56% (2023: 17.54%)
Total annual dividend for the year of 7.38 pence per share, ahead of the 6 pence target (2023: 7.37 pence per share)
Net assets increased from £181.7m in 2023 to £219.8m over the period

Also very helpful being able to raise money at a premium to NAV to be able to invest even harder next year.

[marktime1231] 12/12/2024 12:27

Super annual report. Continuing to grow at a premium with scale bringing trading opportunities, favourable outlook, and SMIF portfolio "credit quality at the highest it has ever been". Yielding 8.5% paid monthly, an income investor's favourite.

[eggbaconandbubble] 06/12/2024 16:05

Insanely correct!

[wilcolator] 06/12/2024 15:53

Added here today. I'm a nobody in Canada who knows little about the UK investment market but I like the monthly dividend. Am I stupid?

[marktime1231] 18/11/2024 12:08

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.

[williamcooper104] 13/11/2024 18:57

You're getting paid for selling out of the money volatility mostly on the European financial sector What that means is that in normal type markets it's all good but if things get hairy - think GFC/euro debt crises then you're going to take big losses Have a look at the share price movements around the Credit Swiss blow up and you'll get a feel for the risk

[someuwin] 13/11/2024 18:55

...Thanks. I was aware that they invest in a range of high interest financial instruments. I just don't know what these things are (or how risky they are). But then again I don't really need to know. It seems to be working for them.

But how sustainable is it? What is the potential downside?

[stemis] 13/11/2024 16:11

hxxps://www.twentyfouram.com/document/74888876-c600-4232-a2cc-7070ee4b3ad2/Factsheet_20240930_EN_TwentyFour-Select-Monthly-Income-Fund.pdf

[stemis] 13/11/2024 16:08

hxxps://www.twentyfouram.com/view/GG00BJVDZ946/twentyfour-select-monthly-income-fund

[someuwin] 13/11/2024 15:53

I took a starter position here a few months back and it all seems to be going well. Looking to add more, but I'm still not sure what they actually do. Can anyone explain the business model?

[marktime1231] 01/11/2024 13:00

Dividend festival day. Yippee.

Who is tempted by UK 10-year gilts paying 4.5% when you can get 8.5% here with not much risk and long term positive price outlook? Dull wasteful pension fund dinosaurs. How did our investment landscape become one where timid certain poor performance trumps long term real returns, fortune still favours the brave? And they take 1-2% in fees all the while.

A revolution in the pension industry is overdue, there has to be incentive or compulsion to deliver and share performance which does better than the bare minimum of covering actuarial liabilities. That will fire the starting gun on a return to pensions schemes pursuing more adventurous more rewarding investment in equities, ventures, infrastructure debt etc.

[eggbaconandbubble] 29/10/2024 14:42

KIID. Key Investor Information Document

[marktime1231] 29/10/2024 13:33

The UK (European) regulations for KIDs (in this case, not KIID) say that information should be updated at least every 12 months. It could be that Jarvis is being super-efficient since the SMIF KID is dated July 2023. If it is a problem drop SMIF a line

[e-mail]

The lack of current KID doesn't seem to be too much of an issue for institutions, a whopping 3.5 million new shares issued last week which is perhaps why the share price was knocked back a step.

SMIF may also be categorised by your broker as a complex instrument requiring you to complete a form to declare you are not a rookie.

Two online platforms I use happy to sell me SMIF today if I wanted to add more.

Perhaps Jarvis could clarify for you?

[eggbaconandbubble] 29/10/2024 10:55

I can't buy these on line through Jarvis because of some technical software issue involving an KIID document????

Has anyone else experienced the same issue?

Thanks

[marktime1231] 18/10/2024 10:39

Shrugging off a 1.38p ex-div with a firmer share price

Presumably because of the ECB rate cut and it was announced CPI had fallen to 1.7%, temporarily perhaps, signalling a UK rate cut in November and confirming what we knew. SMIF will appreciate as interest rates fall.

There are risks of course ... weak growth outlook, low consumer confidence, instability caused by the US election. No real worries here though.

[panshanger1] 10/10/2024 16:17

Think it might have been Charlie Munger who said that the stock market is a mechanism for transferring money from the impatient to the patient

[marktime1231] 10/10/2024 15:57

As if by magic the dividend announcement appears.

So a final 1.38p takes the total for the year to 7.38p cf 7.37p last year. If you had bought last November (*) when SMIF was briefly available for 72p that's a 10.2% yield plus a 13p capital gain.

From here we are on about 8.7% yield and the prospect of 5-10p gain.

(*) I did add back then in the low 70s but traded them again a few months later when the share price bounded in to the low 80s. Sometimes a quick windfall is irresistable. As Buffett says successful long term investing needs good conviction but more importantly it needs patience.

[panshanger1] 10/10/2024 15:56

Happy with that !!

[ramellous] 10/10/2024 15:02

1.38p. There you are

[ramellous] 10/10/2024 15:02

1.38p. There you are

[nerja] 10/10/2024 14:46

My 1.5.p was close enough for me.

[mark5man] 10/10/2024 12:56

2p or not 2p?