TwentyFour Asset Management has raised an additional £31m for its closed-ended Income Fund in its latest fundraising, as the vehicle celebrates its third anniversary.
The firm announced its intention for a fundraising last November in line with planned mandate changes for the trust which would allow the managers greater flexibility to take advantage of European ABS opportunities to boost returns. It has also enabled an exit mechanism for those looking to realise their investment. The trust celebrates its third anniversary this month and is currently £313m in size. The gross proceeds of the issue were £37.7m, of which the first £6.6m will be applied to enable the redemption of ordinary shares, with the £31.1m balance being available for investmen...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
