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

Sell:96.40p Buy:97.20p 0 Change: 0.20p (0.21%)
Market closed Prices as at close on 27 July 2021 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 20 Jul 2021)

What is happening?

 

TwentyFour Select Monthly Income Fund Ltd has announced details of a Quarterly Tender Offer. You have two options to consider before our noon on Tuesday 31 August 2021 deadline.

 

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 30 September 2021 NAV.

 

What are my options?

 

Option 1 – Tender a number of Shares. If you wish to tender a number of Shares please give us your instruction by noon on Tuesday 31 August 2021, at which point any tendered Shares will be removed from your portfolio. Cash from the Tender Offer, or any rejected Shares from Excess elections, are expected to be credited to your Account from 11 October 2021.

Option 2 – Take no action. 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.

 

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:96.40p
Buy:97.20p
Change: 0.20p (0.21%)
Market closed Prices as at close on 27 July 2021 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 20 Jul 2021)

What is happening?

 

TwentyFour Select Monthly Income Fund Ltd has announced details of a Quarterly Tender Offer. You have two options to consider before our noon on Tuesday 31 August 2021 deadline.

 

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 30 September 2021 NAV.

 

What are my options?

 

Option 1 – Tender a number of Shares. If you wish to tender a number of Shares please give us your instruction by noon on Tuesday 31 August 2021, at which point any tendered Shares will be removed from your portfolio. Cash from the Tender Offer, or any rejected Shares from Excess elections, are expected to be credited to your Account from 11 October 2021.

Option 2 – Take no action. 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.

 

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:96.40p
Buy:97.20p
Change: 0.20p (0.21%)
Market closed Prices as at close on 27 July 2021 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 20 Jul 2021)

What is happening?

 

TwentyFour Select Monthly Income Fund Ltd has announced details of a Quarterly Tender Offer. You have two options to consider before our noon on Tuesday 31 August 2021 deadline.

 

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 30 September 2021 NAV.

 

What are my options?

 

Option 1 – Tender a number of Shares. If you wish to tender a number of Shares please give us your instruction by noon on Tuesday 31 August 2021, at which point any tendered Shares will be removed from your portfolio. Cash from the Tender Offer, or any rejected Shares from Excess elections, are expected to be credited to your Account from 11 October 2021.

Option 2 – Take no action. 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.

 

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.

×
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

To generate attractive risk adjusted returns, principally through income distributions. The company intends to invest in a diversified portfolio of credit securities, including bank capital, corporate bonds, high yield bonds, leveraged loans, payment-in kind notes and asset backed securities.

Top 10 holdings currently unavailable.

Top 10 sectors currently unavailable.

Country Weight
United Kingdom 1.40%

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 excess income of Company( the distributions made with respect to any income period) arising each financial year to the holders of Ords. However, there is no guarantee that the dividend target of 6.0 p per Ord for each financial year will be met or that the Company will make any distributions at all.

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

Claire WhittetChairman, Christopher Legge, Ian Martin

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.

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'.