Title: TwentyFour Select Monthly Income Fund Factsheet April 2026

URL Source: https://documentscdn.financialexpress.net/Literature/6BC17612FC0DA0B8FA19DE4A2CC4665B/242087499.pdf

Number of Pages: 3

Markdown Content:
Further Information and Literature: TwentyFour Asset Management LLP T. 020 7015 8900 E. sales@twentyfouram.com W. twentyfouram.com 

Fund Factsheet | 30 April 2026 

# TwentyFour Select Monthly Income Fund 

This Factsheet is a marketing communication for professional UK investors only TwentyFour Select Monthly Income Fund is managed by TwentyFour Asset Management LLP and is a non-cellular company limited by shares incorporated in Guernsey and registered as a closed-ended collective investment scheme with the Guernsey Financial Services Commission. Its shares are traded on the Main Market of the London Stock Exchange. 

## Fund Objective 

The Fund aims to generate attractive risk-adjusted returns, principally through monthly income distributions, by investing in a diversified portfolio of fixed income credit securities. 

## Investment Approach 

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. The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products, because the Fund would qualify as an investment trust if the Fund was based in the UK. The Fund is not managed in reference to any benchmark index. 

## Fund Facts 

Type of Fund: Closed-ended investment fund 

Listing & Trading: UKLA Official List; LSE Main Market 

ISA & SIPP Eligible: Yes 

Fund Launch Date: 10 March 2014 

NAV Calculation: As of each Wednesday and each month end 

Market Capitalisation: £298.51 mn 

3yr Volatility: 4.17% 

Current Mark-to-Market (MTM) Yield: 8.85% 

Interest Rate Duration: 3.16 yrs 

Credit Spread Duration: 3.81 yrs 

Current Price per Share: 84.90p 

Current NAV per Share: 83.46p 

Premium/Discount to NAV: 1.73% 

Dealing: Daily during LSE opening hours 

Shares in Issue 351.6 mn 

Base Currency: GBP 

## Performance                

> NAV per Share NAV per Share inc dividends Share Price Share Price inc dividends
> 04/14 04/15 04/16 04/17 04/18 04/19 04/20 04/21 04/22 04/23 04/24 04/25 04/26 50 75 100 125 150 175 200 225

Annualised Cumulative Performance 1m 3m 6m 1yr 3yr 5yr 10yr Since Inception* NAV per share inc. dividends 2.06% -1.05% 1.78% 9.86% 14.37% 6.63% 7.76% 6.46% Discrete Performance YTD 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 NAV per share inc. dividends 0.41% 10.70% 17.69% 17.60% -12.92% 7.48% 5.73% 11.94% -1.41% 14.56% 8.20% 

Past performance is not a reliable indicator of current or future performance. The performance figures shown are on a mid-to-mid basis inclusive of net reinvested income and net of all Fund expenses; due to data availability month-end pricing has been used. Performance data does not take into account any commissions and costs charged when shares of the Fund are issued and redeemed. 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. *Inception date: 10 March 2014. 

## Top Ten Holdings 

Security Sector % of the whole fund 

UNICREDIT SPA 5.8 PERP Banks 2.83% BARCLAYS PLC 6.125 PERP Banks 1.75% VSKH 4 C7-1 ABS 1.64% INTESA SANPAOLO 5.875 PERP Banks 1.52% AGEAS 5.875 PERP Insurance 1.50% CRED AGRICOLE SA 5.875 PERP Banks 1.50% SHAWBROOK GROUP 8.375 PERP Banks 1.49% NATIONWIDE BLDG 10.25 PERP Banks 1.49% DEUTSCHE BANK AG 6.75 PERP Banks 1.49% CAIXABANK 5.875 PERP Banks 1.46% 

## Key Risks  

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Limited participation in the potential of single securities  

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Investments in foreign currencies are subject to currency fluctuations  

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Success of single security analysis and active management cannot be guaranteed  

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It cannot be guaranteed that the investor will recover the capital invested  

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Derivatives entail risks relating to liquidity, leverage and credit fluctuations, illiquidity and volatility  

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Interest rates may vary, bonds suffer price declines on rising interest rates  

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Investment universe may involve investments in countries where the local capital markets may not yet qualify as recognised capital markets  

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Typically, sub-investment grade securities will have a higher risk of issuer default, and are generally considered to be more illiquid than investment grade securities  

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The Fund’s investments may be subject to sustainability risks. The sustainability risks that the Fund may be subject to are likely to have an immaterial impact on the value of the Fund’s investments in the medium to long term due to the mitigating nature of the Fund’s ESG approach  

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The Fund’s performance may be positively or negatively affected by its sustainability strategy  

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The ability to meet social or environmental objectives might be affected by incomplete or inaccurate data from third-party providers  

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Information on how environmental and social objectives are achieved and how sustainability risks are managed in this Fund may be obtained from twentyfouram.com/sustainability TwentyFour Asset Management | Fund Factsheet | 30 April 2026 

## Ratings Breakdown 

0.85% 0.58% 31.43% 40.69% 16.54% 0.48% 9.43% AAA/Cash & Equiv AA BBB BB B CCC NR 0% 10% 20% 30% 40% 50% 

## Sector Breakdown 

0.85% 0.51% 3.59% 6.69% 15.05% 34.33% 38.99% Banks ABS Insurance High Yield Europe High Yield US Emerging Markets Cash & Equiv 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 

## Geographical Breakdown 

0.85% 1.28% 8.91% 26.95% 62.01% Europe ex UK UK US Other Cash & Equiv 0% 10% 20% 30% 40% 50% 60% 70% 

## Maturity Profile 

0.85% 2.86% 1.81% 22.77% 30.40% 19.06% 17.61% 4.65% 0 - 1 yr 1 - 3 yr 3 - 5 yr 5 - 7 yr 7 - 10 yr 10 - 15 yr 15 yr+ Cash & Equiv 0% 5% 10% 15% 20% 25% 30% 35% 

Calculated on a direct exposure basis. The fund has no direct exposure to Russia or Belarus. Calculated as the expected maturity date or call date or as the weighted average life 

for amortising Asset Backed Securities. Cash & Equiv includes MtM MV of iTraxx Xover CDS position(protection buyer). MV: -0.99 % of NAV; Notional: 11.06 % of Fund AUM 

## Environment, Social & Governance - engagement examples 

During Q1 2026, the Multi-Sector Bond team have had the following engagements with companies: 

Engagement Type No. Environmental 2Social 1Borrower Meetings/Updates 33 

## Share Classes 

TIDM SMIF 

ISIN GG00BJVDZ946 

SEDOL BJVDZ94 

Distribution Frequency Monthly 

AMC (%) 0.75% 

OCF (%)* 1.19% *As at 21/05/2025. The ongoing charges figure is an estimate based on the last year’s expenses and may vary from year to year. 

## Recent Dividends 

Type Ex-div date Payment date Amount 6th interim 23/04/2026 08/05/2026 0.75p 5th interim 19/03/2026 07/04/2026 0.50p 4th interim 19/02/2026 06/03/2026 0.50p 3rd interim 22/01/2026 06/02/2026 0.50p 2nd interim 18/12/2025 05/01/2026 0.50p The Fund considers environmental, social and governance (ESG) factors in the investment process, utilising an integrated approach. Information on the integration approach may be obtained from twentyfouram.com/view/GG00BJVDZ946/twentyfour-select-monthly-income-fund Further information on fund charges, costs and other important information pertaining to the fund can be found in English and free of charge on the fund pages of our website and/or in the Prospectus and the Key Information Document (KID) which are available at twentyfouram.com/view/GG00BJVDZ946/twentyfour-select-monthly-income-fund 

THIS FACTSHEET IS FOR FINANCIAL ADVISERS AND INSTITUTIONAL/PROFESSIONAL INVESTORS ONLY. NO OTHER PERSONS SHOULD RELY ON THE INFORMATION CONTAINED WITHIN THIS DOCUMENT. In making any investment in TwentyFour Select Monthly Income Fund, investors should rely solely on the Prospectus and the KID and not the summary set out in this document. 

Past performance is not a reliable indicator of current or future performance. Performance data does not take into account any commissions and costs charged when shares of the fund are issued/purchased and redeemed/disposed of, if applicable. The return of the fund may go down as well as up, e.g. due to changes in rates of exchange between currencies. The value of the money invested in the fund can increase or decrease and there is no guarantee that all or part of your invested capital can be redeemed. For definitions of the investment terminology used within this document please see glossary at: twentyfouram.com/glossary. TwentyFour Asset Management LLP is able to assist those institutional clients who require it with meeting their Solvency II (including its UK onboarding and onshoring legislation) obligations. In particular, TwentyFour Asset Management LLP will make all reasonable endeavours to comply with the Solvency II Regulations 2015 Article 256. Neither the fund nor TwentyFour Asset Management LLP make any representation or warranty, express or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of an assessment of ESG research and the correct execution of the ESG strategy. As investors may have different views regarding what constitutes sustainable investing or a sustainable investment, the funds may invest in issuers that do not reflect the beliefs and values of any specific investor. Please contact the Compliance Department at compliance@twentyfouram.com for more information. TwentyFour Asset Management LLP is a Limited Liability Partnership incorporated in England under Partnership No. OC335015 with its registered office at 8th Floor, The Monument Building, 11 Monument Street, London EC3R 8AF and is authorised and regulated in the UK by the Financial Conduct Authority, FRN No. 481888. Calls may be recorded for training and monitoring purposes. Copyright TwentyFour Asset Management LLP, 2026 (all rights reserved). 

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