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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Twentyfour Select Monthly Income Fund Limited | LSE:SMIF | London | Ordinary Share | GG00BJVDZ946 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.60 | 0.71% | 85.60 | 20,762 | 08:37:58 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 84.40 | 85.40 | 85.60 | 85.60 | 85.60 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Investors, Nec | 26.94M | 0.0360 | 23.78 | 635.66M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 09:00:56 | O | 21 | 85.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 04/10/2024 | 11:41 | UKREG | TwentyFour Select Monthly Income Fund - Tender Results |
| 03/10/2024 | 16:41 | UKREG | TwentyFour Select Monthly Income Fund - Net Asset Value(s) |
| 01/10/2024 | 17:03 | UKREG | TwentyFour Select Monthly Income Fund - Net Asset Value(s) |
| 01/10/2024 | 11:57 | UKREG | TwentyFour Select Monthly Income Fund - Total Voting Rights |
| 01/10/2024 | 09:10 | UKREG | TwentyFour Select Monthly Income Fund - Director Dealing |
| 27/9/2024 | 16:45 | UKREG | TwentyFour Select Monthly Income Fund - Issue of Equity |
| 26/9/2024 | 16:51 | UKREG | TwentyFour Select Monthly Income Fund - Net Asset Value(s) |
| 20/9/2024 | 15:55 | UKREG | TwentyFour Select Monthly Income Fund - Issue of Shares |
| 19/9/2024 | 16:05 | UKREG | TwentyFour Select Monthly Income Fund - Net Asset Value(s) |
| 18/9/2024 | 18:31 | UKREG | TwentyFour Select Monthly Income Fund - Monthly Factsheet & Commentary -.. |
Twentyfour Select Monthl... (SMIF) Share Charts1 Year Twentyfour Select Monthl... Chart |
|
1 Month Twentyfour Select Monthl... Chart |
Intraday Twentyfour Select Monthl... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 16/9/2024 | 13:05 | TwentyFour Monthly Income | 337 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 08:00:57 | 85.00 | 21 | 17.85 | O |
| 07:56:27 | 85.35 | 4 | 3.41 | O |
| 07:46:58 | 85.30 | 5,861 | 4,999.26 | O |
| 07:34:10 | 85.26 | 369 | 314.60 | O |
| 07:31:55 | 85.00 | 1,000 | 850.00 | O |
| Top Posts |
|---|
Posted at 07/10/2024 09:20 by Twentyfour Select Monthl... Daily Update Twentyfour Select Monthly Income Fund Limited is listed in the Investors, Nec sector of the London Stock Exchange with ticker SMIF. The last closing price for Twentyfour Select Monthl... was 85p.Twentyfour Select Monthl... currently has 747,836,661 shares in issue. The market capitalisation of Twentyfour Select Monthl... is £640,148,182. Twentyfour Select Monthl... has a price to earnings ratio (PE ratio) of 23.78. This morning SMIF shares opened at 85.60p |
Posted at 13/9/2024 13:44 by marktime1231 Well at this rate of progress we are unlikely to see 90p by year end, but it is still on its way in time. I wonder if we will get a boost from the final dividend next month, hoping for nearer to 1p than 0.75p. The ability of SMIF to keep issuing significant volume of new shares at a small premium is helping, and at this rate maybe next year we will be a £250M+ "scale" trust. Softer charges on the way perhaps?Continuing to watch the tricks which DIY platforms get up to. Both HL and AJBell were quick to announce reductions in the interest they pay out on cash balances when BoE shaved the base rate. For some reason AJBell pay quarterly which is mean, they are getting daily proceeds from agency over our cash so why - exploiting it for themselves. HL pay monthly. But not promptly, calculated to 9th of the month and a transaction at that date will eventually show up in the account history. But still waiting 4 days later for HL to report this cash as available, in the meantime they are no doubt using it for their own benefit. Both examples of shameful gouging customers with healthy balances, which is most of us ... I'm guessing now an average of £300-400 pa per customer, they are keeping a fortune in interest earned on our cash to themselves. Not to be sniffed at. So much for FCA "duty of care" and apparent interventions on our behalf last year. As far as I can see there is no honest alternative either. Oh well. |
Posted at 16/8/2024 13:19 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 16/8/2024 13:13 by mark5man Just in (From HL messages - SIPP)TwentyFour Select Monthly Income Fund Ltd has announced details of a quarterly tender offer. The company has announced it intends to purchase up to 20% of the issued share capital at a price based on the net asset value (NAV). The tender price will be set at a 2% discount to the NAV on 27 September 2024. Tender elections in excess of your basic entitlement may be subject to pro rata scaling back. As your shares are held with Hargreaves Lansdown scaling back of excess elections may not be on the same terms as those announced by the company. Based on your current holding of XXX shares, you have a basic entitlement to tender XXX/5 shares. Shareholders are not obliged to tender any number of shares. If you do not return an instruction no shares will be tendered on your behalf and your holding will remain unchanged. Act by noon on Monday 2 September 2024 ---- My initial reaction is to not tender any with as selling at a 2% discount to NAV is a loser when they are at a premium. Different insights into what's going on welcomed EDIT: I mean as a PI why wouldn't you just sell them on the open market if they are at premium to NAV |
Posted at 05/7/2024 19:01 by marktime1231 Yet again HL unable or unwilling to credit SMIF dividends on the pay day. Help yourselves to my cash over the weekend why don't you. AJBell paid up promptly this morning. |
Posted at 11/6/2024 07:54 by spangle93 Interims issued"We still expect dividends payable in respect of the year ending 30 September 2024 to be in excess of 6.5 pence per share." "the Company's NAV per share grew by 7.61%, and this, together with the net re-issue of 2.75 million shares from treasury (all of which have been accretive to the Company having been re-issued at a premium to their purchase price and to NAV at the time of re-issue)...." "The strong macro economic environment coupled with a positive supply and a higher rate environment has enabled us to position SMIF positively over the period. All sectors in the portfolio delivered a positive return, which combined with accretive additions and relative value switches, has contributed to the high income earned, while increasing the overall credit profile" Nothing on Outlook though |
Posted at 29/5/2024 12:56 by marktime1231 SMIF firm at this price waiting for interest rate cuts, and issuing big blocks of shares at a premium.An update on my use of platforms. AJB trading report shows they too are gorging themselves by retaining interest earned on client cash, at the rate of about £190 per customer in H1. Taking 4-5 days to complete transactions is pretty poor in the modern world, they are all slack. And yet it is HL's sticky tricky ways of handling client cash which has made my mind up. So I am transferring my remaining SIPP from HL to AJB. If nothing else it will save £16.7 per month in unnecessary "custody" fees. |
Posted at 05/1/2024 17:40 by marktime1231 Welcome arrival of the first dividend of the year. In AJB anyway. But not HL, yet again they fail to credit cash promptly going in to a weekend. It will be sitting nicely in one of their money-market accounts for an extra two or three days to their benefit. That the CMA and Treasury Select Committee are on to them for profiteering from "agency" over client cash, not passing on enough of the interest earned, has not stopped them playing greedy games. Too many times HL and too predictable for it to be accidental slow administration. I hope they get slaughtered by the review and given a public dressing down by the committee on TV.Not everyone realises the extent of what they are up to, last year for example HL retained the equivalent of £150 per client from net interest on client cash. Way more than what they earn from declared fees. And they crowed about it (to their shareholders). They are all at it of course. For example, AJB last pension instalment was deducted from my SIPP on the 8th but didn't appear at my bank until after close of play on the 13th. Using the dinosaur concept of non-working days and the quill-and-ink idea that a simple transfer needs up to 4 working days as an excuse to delay what should be an intraday electronic process. But I am sure that HL are the worst of the bunch and the least apologetic. Hey ho, what do you do. Meanwhile Santa answered my prayer and SMIF share price has indeed restored a small premium to NAV, even Numis happy to buy up the tendered stock on that basis knowing it will be able to offload them promptly at an even higher price. Long recovery still to come here, and it will come as confidence builds that interest rates will start being cut. We might not see the full 100p this year but I am hopeful of seeing the 90s again. |
Posted at 16/11/2023 17:00 by marktime1231 I can understand why there might be high demand for Barclays AT1 at 9.6%, and I hope SMIF have picked some up in view of its strategy to pivot towards higher quality debt at this stage in the cycle. Swiss AT1s no thank you!Barclays raising capital because customers are starting to deploy their cash deposits? So why not pay your account holders a healthy savings rate! Only baby steps so far but I get the idea that the prices of SMIFs underlying investments have bottomed and are starting to crawl back upwards, steady NAV progress would be very welcome indeed. That is surely the logical effect of a consensus view that base rates have topped out, it is when not if they will come down, and folks sharing SMIFs view that the economic landing will be "softish". A strong share price performance today despite ex-div, helped by a late half-million trade at 73.8p presumably an institution, all very pleasing. A signal that, if only we could swing back to a modest premium, SMIF would be able to issue fresh stock and invest in such good opportunities. |
Posted at 10/5/2023 08:56 by speedsgh Interesting post @spangle93. I do not hold SMIF but I see that it launched in March 2014 so the majority of its existence has been during the ZIRP era which helped to inflate the values of its constituent holdings. This has obviously unwound fairly spectacularly over the past 12-18 months and, looking at its chart since launch, one can see that (ignoring the spike down at the onset of Covid), the worst of its share price (and presumably NAV) falls have occurred in sync with the rise of interest rates. Whilst I do not expect a return to the ultra-low interest rates of the past decade, once rates stabilise and maybe fall back a little, I suspect that the current NAV/share price will indeed prove to be fairly near the bottom of the current cycle. AIMHOedit - I note that total returns (both NAV & share price) have been superior at TFIF over virtually all timescales TFIF - SMIF - |
Posted at 20/3/2023 11:19 by marktime1231 SMIFs direct exposure to CS, if any, will be less than 1% as has been discussed above. The point of the crash this morning is, however, that SMIF is heavily invested in junk-grade high yield in the European financial sector. The risk of these investments has increased in general terms even if SMIF doesn't hold cocos etc which are specifically at risk.There has also been unreasonable derating of less risky investment grade bonds, perps etc and this is clobbering SMIF NAV. Or stretching further an already stretched discount in underlying holdings. Creating an exceptional buying opportunity in an already cheap market. SMIFs response is superb. Call an EGM to get approval to issue another 20% more shares, having already issued a fresh 20% in the last year or so, to take advantage of increasing net margin opportunities. Institutional demand for SMIFs mostly safe stock paying 8% will be strong. Take your cue from management and hold your nerve. Unfortunately it will take a while for the share price to recover but SMIF will be back on the path of steady improvement as soon as the panic settles down. Anyone here for the long term will not regret taking that rare chance to top up in the 60s. |
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