Twentyfour Select Monthl... Share Discussion Threads

[cc2014] 29/4/2022 15:02

Now now 85.63p and more equity raised at 87.38p.

Seems Twenty Four are more interested in their fee than the share price.

[cwa1] 13/4/2022 09:30

Took a while but they got there in the end:-

[cwa1] 12/4/2022 16:24

Thanks, much obliged. I sent them a message on the day it was announced but, as yet, haven't had any response

[marktime1231] 12/4/2022 16:20

Yes, no, I have written suggesting they inform the market.

[cwa1] 12/4/2022 16:13

Thanks for clarifying that. If I may ask, was that in a personal communication to you, or is it somewhere you can link to here?

Cheers

[marktime1231] 12/4/2022 15:37

24am have advised payment date will be 6 May.

[eithin] 10/4/2022 10:28

LATEST DIVIDENDS
Summary Previous dividend Next dividend
Status Paid Declared
Type Interim Interim
Per share 0.5p 0.5p
Declaration date 10 Mar 2022 (Thu) 07 Apr 2022 (Thu)
Ex-div date 17 Mar 2022 (Thu) 14 Apr 2022 (Thu)
Pay date 01 Apr 2022 (Fri) 29 Apr 2022 (Fri)

From Dividend Max Think 29th. possibly right.

[cwa1] 08/4/2022 06:36

That's probably the date I'd have guessed at, though with Easter in the mix POSSIBLY the week after?

Would be nice to be told for sure though ;-)

[eithin] 08/4/2022 06:20

Guess April 29th. ???

[cwa1] 07/4/2022 15:54

Re: Dividend Announcement

The Directors of TwentyFour Select Monthly Income Fund Limited have declared that a dividend will be payable, in line with the Prospectus, representing the regular monthly targeted dividend for the financial period ending 31 March 2022 as follows:

Declaration Date 7 April 2022
Ex-Dividend Date: 14 April 2022
Record Date 19 April 2022
Dividend per Share 0.50 pence (Sterling)

Perhaps we've to guess when the actual payment date is :-/

[marktime1231] 06/4/2022 12:39

Topped up SMIF in my SIPP this morning, looks like quite a few of you are doing the same.

[cwa1] 15/3/2022 17:07

And some more...

Issue of Shares

TwentyFour Select Monthly Income Fund Limited (LSE: SMIF) is pleased to announce that, to satisfy market demand and to raise money for investment in accordance with the Company’s investment policy, 725,000 new ordinary shares of 1 pence each in the capital of the Company were issued at a price of 88.02 pence per share (the “New Shares”), raising £638,145.00 (before costs and expenses) under the Block Listing.

[cc2014] 14/3/2022 15:42

NAV now 86.29 as of a few days ago. It seems they are going to carry out issuing shares imho until the premia is gone.

[cwa1] 14/3/2022 15:20

Issue of Shares

TwentyFour Select Monthly Income Fund Limited (LSE: SMIF) is pleased to announce that, to satisfy market demand and to raise money for investment in accordance with the Company’s investment policy, 500,000 new ordinary shares of 1 pence each in the capital of the Company were issued at a price of 88.02 pence per share (the “New Shares”), raising £440,100.00 (before costs and expenses) under the Block Listing.

[cwa1] 25/2/2022 14:08

Featured in this week's Shares magazine as a "BUY":-

Analysis by Numis
indicates the managers have
demonstrated a disciplined
approach to issuing new shares
and have only done so when
the capital can be deployed
to support the yield, which is
currently an attractive 7.2%.
This implies the managers
have a positive outlook and
see the capacity to deploy
fresh funds. Numis estimates
that historically, returns
generated from the start of
issuance have averaged 14%
over the following year.
The trust has delivered an
annualised return of 7.2% and
6.5% respectively over the last
three and five years.

[cwa1] 21/2/2022 17:36

And another million:-

[cc2014] 21/2/2022 12:39

Another million shares issued. This time at 90.29

[cwa1] 11/2/2022 17:57

Didn't take long to lob some out...



...happy enough to have bought just inside that price :-)

[cc2014] 11/2/2022 16:48

I'm happy enough to buy SMIF at the right price. I've looked at the underlying holdings and there's nothing to overly concern me there.

I haven't really thought about it but I wouldn't pay more than NAV. I'd want to pay less than NAV but tbh it's like NCYF. It's always at a premium and I could wait forever to get a price I like.

[cwa1] 11/2/2022 16:10

Ah, OK, I see where you're coming from...

I had just had a nibble here at 91p and saw your post above stating it was at a significant premia to NAV and had a moment of panic! However, when I went to the companies own factsheet they quoted a smidgeon over 91p as being the most up to date NAV, so I couldn't quite reconcile the two...

Many thanks for explaining your thinking, as I do recognise where you are coming from.

Purely out of acedemic interest, do you have a price that would interest you at SMIF, or is the "whiff"/mindset you have too much to overcome?

Thanks for your thoughts

[cc2014] 11/2/2022 15:36

When I wrote the post a couple of days ago the NAV was just below 90p and it was about 93-94p to buy. I guess a 3-4% premia is not "significant" when I think about it. It just seems alot to me compared with say BIPS which was trading on a 3-4% discount.

On the other hand if I compare with NCYF, SMIF looks "cheap" on a valuation basis.

The post probably overspills into my thoughts on TwentyFourAM who I not really a fan of. This is mostly based on UKML and I guess it's not fair to associate the fund manager there with this fund but it's got into my mindset.

[cwa1] 11/2/2022 15:02

Afternoon CC2014

From your post:-

I don't hold SMIF due to the premia to NAV and this reminds me to continue to avoid anything at a significant premia to NAV.

I hope you don't think I'm being rude-but what figures are you using for SMIF's NAV? I can't seem to reconcile a "significant premia" to NAV with the current share price but I've doubtless got the wrong end of the stick somewhere ;-) FWIW I made it about in line with NAV.

Many thanks for any clarification you can give!

Cheers

[cc2014] 09/2/2022 07:40

TwentyFour Asset Management LLP (the “Investment Manager”) will be hosting a virtual update on Thursday 10th February at 10am to discuss the outlook and opportunities for the TwentyFour Select Monthly Income Fund (the “Company”;).

The Investment Manager has highlighted that recent macroeconomic developments have led to a number of investment opportunities within the Company's universe which it perceives as offering attractive return and risk characteristics.

In light of the opportunity to deploy funds accretive in the market, the board will consider issuing shares at a reduced premium to NAV per share while the opportunity remains.

The Company has the ability to issue up to 29,147,702 ordinary shares as part of the outstanding issuance authority granted at the Annual General Meeting on 8 July 2021.


Put out via PRN and not RNS as far as I can see unless ADVFN is losing the plot which wouldn't be unusual.

In my view the party is coming to an end, TwentyFour know it and want to get their fees up as much as possible whilst there is still time. I don't like their position on UKML/TFIF either.

I don't hold SMIF due to the premia to NAV and this reminds me to continue to avoid anything at a significant premia to NAV.