TwentyFour Select Monthly Income Fund - Company Update
March 30 2020 - 10:55AM
PR Newswire (US)
30 March 2020
TwentyFour Select
Monthly Income Fund Limited
TwentyFour Select Monthly Income Fund Limited (the “Company”)
was incorporated with limited liability in Guernsey, as a
closed-ended investment company on 12
February 2014. The Company’s shares were listed with a
Premium Listing on the Official List of the UK Listing Authority
and admitted to trading on the Main Market of the London Stock
Exchange (“LSE”) on 10 March
2014.
Re: Company Update
Company Update
The credit market has endured significant volatility over the
past month as market participants have reacted to the economic
uncertainty brought about by the effects of the Covid-19 pandemic.
Forced and indiscriminate selling has resulted in unprecedented
volatility that in turn has created the opportunity to source
assets that have been otherwise unavailable to investors for almost
a decade. The higher yields available for selective credits in the
current market have enabled the Board of Directors of the
TwentyFour Select Monthly Income Fund to approve the issue of
20.9m new shares to meet specific
investor demand. The estimated mark-to-market yield of the
portfolio as at Close of Business 25th March
2020 is 13.01% based on NAV (gross, GBP hedged, current
yield-to-worst).
Past performance is not a reliable indicator of future
performance.
The value of an investment and the income from it can fall as
well as rise as a result of market and currency fluctuations and
you may not get back the amount originally invested.
For further information, please contact:
Numis Securities Limited:
Nathan
Brown
+44 (0)20 7260 1000
Hugh Jonathan
TwentyFour Income Fund Limited:
John
Magrath
+44 (0)20 7015 8900
Alistair Wilson
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