TwentyFour to expand closed-ended fixed income range

TwentyFour Asset Management is in the process of setting up a new closed-ended fixed income fund to take advantage of opportunities in less liquid parts of the bond market.

The TwentyFour Select Monthly Income fund will be run by Gary Kirk (pictured), Eoin Walsh and Felipe Villarroel, running between 50-75 holdings and aiming to return a minimum of 0.5% on a monthly basis, meaning a minimum total return of 6% per annum. The fund will use its structure to invest in smaller issues which the team see as good opportunities but not liquid enough for an open-ended fund. It will invest across the fixed income universe holding asset backed securities, corporate bonds, high yield bonds and leveraged loans. The firm's existing closed-ended fund, the £300m TwentyFo...