TwentyFour Asset Management's UK Mortgages investment trust has raised £250m during its initial public offering.
Demand for the shares exceeded the £250m maximum set by the trust, reaching over £325m, TwentyFour said. Latest P2P trust targets £100m as alternatives boom continues UK Mortgages Limited will apply "relatively conservative" levels of leverage to portfolios of UK mortgages, which will include legacy portfolios with strong histories and newer ones with robust underwriting. It will be managed by TwentyFour's Ben Hayward (pictured) and Douglas Charleston. The trust, which aims to produce an annual total return of 7% to 10% once the portfolio is fully invested, is the latest in a...
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