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TwentyFour Select Monthly Income Fund Limited (SMIF) Ordinary 1p

Sell:83.20p Buy:84.40p 0 Change: 0.20p (0.24%)
FTSE All Share:0.39%
Market closed |  Prices as at close on 16 August 2024 Prices delayed by at least 15 minutes | Switch to live prices |
Ex-dividend | Tender Offer

TwentyFour Select Monthly Income Fund Limited Ordinary 1p

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Client deadline
Details (last updated 16 Aug 2024)

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.

 

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.

 

Tender a number of shares - Act by noon on Monday 2 September 2024

 

Any tendered shares will be removed from your portfolio from 2 September 2024. Cash from the tender offer, or any rejected shares from excess elections, are expected to be credited to your account from 14 October 2024.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:83.20p
Buy:84.40p
Change: 0.20p (0.24%)
Deal now Deal for just £11.95 per trade in a Stocks and Shares ISA, Lifetime ISA , SIPP or Fund and Share Account
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Market closed |  Prices as at close on 16 August 2024 Prices delayed by at least 15 minutes | Switch to live prices |
Ex-dividend | Tender Offer

TwentyFour Select Monthly Income Fund Limited Ordinary 1p

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Client deadline
Details (last updated 16 Aug 2024)

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.

 

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.

 

Tender a number of shares - Act by noon on Monday 2 September 2024

 

Any tendered shares will be removed from your portfolio from 2 September 2024. Cash from the tender offer, or any rejected shares from excess elections, are expected to be credited to your account from 14 October 2024.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:83.20p
Buy:84.40p
Change: 0.20p (0.24%)
Market closed |  Prices as at close on 16 August 2024 Prices delayed by at least 15 minutes | Switch to live prices |
Ex-dividend | Tender Offer

TwentyFour Select Monthly Income Fund Limited Ordinary 1p

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Client deadline
Details (last updated 16 Aug 2024)

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.

 

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.

 

Tender a number of shares - Act by noon on Monday 2 September 2024

 

Any tendered shares will be removed from your portfolio from 2 September 2024. Cash from the tender offer, or any rejected shares from excess elections, are expected to be credited to your account from 14 October 2024.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Deal now Deal for just £11.95 per trade in a Stocks and Shares ISA, Lifetime ISA , SIPP or Fund and Share Account
Deal now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Objective

The Fund will actively invest in a diversified portfolio of fixed income credit securities that exhibit an illiquidity premium, and which the Portfolio Managers believe represent attractive relative value. These securities will include (but are not limited to): corporate bonds, asset-backed securities, high yield bonds, bank capital, Additional Tier 1 securities, payment-in-kind notes and leveraged loans. Uninvested cash or surplus capital or assets may be invested on a temporary basis in cash and/or a range of assets including money market instruments and government bonds. The Fund may also use derivatives. This is only a summary; details of the Fund’s investment policy, including investment restrictions, are set out more fully in the Prospectus. Typical investors for whom these Ordinary Shares are intended are professional investors or professionally advised retail investors who are principally seeking monthly income from a portfolio of credit securities.

Top 10 holdings currently unavailable.

Top 10 sectors currently unavailable.

Top 10 countries currently unavailable.

Fee Structure

Investment management fee of 0.75% of lower of market cap and NAV. The Investment Management Agreement may be terminated by either party giving not less than 12 months notice.

Dividend Policy

The Board intends to distribute an amount at least equal to the value of the Company excess income, as defined below, arising each financial year to the holders of Ordinary Shares. However, there is no guarantee that the dividend target of 6.0 pence per Ordinary Share for each financial year will be met or that the Company will make any distributions at all.The Board Intends to pay dividend on monthy basis.

ASSET SPLIT

Total number of holdings: 8.

Trust Manager

Not currently available for this investment trust.

Manager Bio

Not currently available for this investment trust.

Board Of Directors

Ashley PaxtonChairman, Sharon Parr, Wendy Dorey, Simon Class

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Objective, holding data, trust manager and bio information, dividend policy, asset split and fee structure are provided by Morningstar.
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The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.