21st Dec 2022 12:26
Twentyfour Income Fund Ltd - closed-ended fund which targets less-liquid, higher-yielding asset-backed securities - Net asset value per share on September 30 is down 16% to 95.82 pence, from 113.89p a year earlier, and down 15% from 112.45p on March 31. Notes the NAV per share drop in the six months represents a total NAV return of negative 14.8%. "The decline in the company's performance in absolute terms over the review period is disappointing but it has been a particularly volatile period for all assets", it says.
For the period from April 1 to September 30, total net assets amount to GBP613 million, up 5.9% from GBP579 million the year before. Swings to a total comprehensive loss of GBP83.0 million from a profit of GBP23.1 million, as net foreign currency losses surged to GBP11.1 million from just GBP1.8 million the year before. Declares a dividend of 3.25p per share in respect of the period, up 8.3% from 3.0p a year prior.
Twentyfour joined the FTSE 250 index on September 19 this year.
Current stock price: 98.44p, down 0.4% on Wednesday in London
12-month change: down 15%
By Xindi Wei, Alliance News reporter
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