Interim / Quarterly Report • Feb 7, 2014
Interim / Quarterly Report
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National Storage Mechanism | Additional information
RNS Number : 6238Z
TwentyFour Income Fund Limited
07 February 2014
TwentyFour Income Fund Limited - Interim Management Statement
7 February 2013
TwentyFour Income Fund Limited
Interim Management Statement (Unaudited)
This interim management statement relates to the period from 1 October 2013 to 5 February 2014 and contains information that covers that period, unless otherwise stated.
Financial Performance - Cumulative Total Return*
| 1 Month | 3 Months | Financial YTD | |
| Share price | 2.52 % | 6.08 % | 19.71 % |
| Net asset value | 2.31 % | 4.95 % | 17.17 % |
*total return with net dividends reinvested
Source: Bloomberg/TwentyFour AM
Financial position
As at 5 February 2014
| Total assets | GBP 304.0 m |
| Share price | 118.25 p |
| Net asset value | 113.90 p |
| Discount/Premium | 3.81 % |
| Gearing | 0 % |
Source: Bloomberg/TwentyFour AM
Material Events
During the period the Company paid two dividends to shareholders totalling 2.50p per ordinary share:
· 1.25p (Ex-Dividend Date 9 October 2013 ; Payment Date 25 October 2013)
· 1.25p (Ex-Dividend Date 15 January 2014 ; Payment Date 31 January 2014)
Material Transactions
Changes to share capital
| Ordinary Shares | |
| As at 1 October 2013 | 216,817,637 |
| Shares bought back and cancelled | - |
| Shares bought back into Treasury | - |
| Shares cancelled from Treasury | - |
| Shares issued | 50,091,075 |
| As at 5 February 2014 | 266,908,712 |
Portfolio Analysis
As at 5 February 2014
Ten Largest Holdings
| Security | Sector | WAL | % of Total |
| ESAIL 07-NL2 | NC RMBS | 12.88 | 4.82 % |
| WHINSTONE | Prime RMBS | 7.45 | 4.67 % |
| LEMES 06-1 | CMBS | 2.55 | 4.02 % |
| LUSI 4 | Peripheral RMBS | 6.52 | 3.81 % |
| LUSI 5 | Peripheral RMBS | 7.23 | 3.51 % |
| ITALF 07-1 | Leases | 2.46 | 3.45 % |
| MERCT I-X | Lev loan CLO | 4.21 | 3.40 % |
| BANKP I | Peripheral SME | 6.46 | 2.96 % |
| EMACP 07-NL4 | Prime RMBS | 12.68 | 2.64 % |
| DOLPH 10-3 | Prime RMBS | 1.38 | 2.37 % |
Sector Breakdown Rating Breakdown Geography Breakdown
| Sector | % of Total | Rating | % of Total | Geography | % of Total | ||
| RMBS | 46.02 % | AA | 3.82 % | UK | 13.38 % | ||
| CLO | 32.49 % | A | 17.82 % | Netherlands | 17.60 % | ||
| SME | 6.34 % | BBB | 28.37 % | Germany | 1.12 % | ||
| Leases | 5.57 % | BB | 26.33 % | Spain | 14.00 % | ||
| CMBS | 4.84 % | B | 15.40 % | Portugal | 9.59 % | ||
| Consumer | 2.02 % | CCC | 1.77 % | Italy | 9.11 % | ||
| CDO | 0.45 % | No Rating | 4.22 % | Mixed | 32.94 % | ||
| Cash | 2.26 % | Cash | 2.26 % | Cash | 2.26 % | ||
| Total | 100.00 % | Total | 100.00 % | Total | 100.00 % |
Enquiries
TwentyFour Asset Management LLP
John Magrath
020 7015 8912
Numis Securities Limited
Nathan Brown
020 7260 1426
Hugh Jonathan
020 7260 1263
This interim management statement has been prepared solely to provide information to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules.
Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.
A monthly fact sheet is produced with respect to the Company, which is available on the Company's website: www.twentyfourincomefund.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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