TwentyFour Income Fund (LSE:TFIF) has confirmed it will be included in the London Stock Exchange’s FTSE 250 index following the latest quarterly reshuffle.
TwentyFour Income Fund Limited targets less liquid, higher yielding European asset-backed securities (ABS). These assets are floating rate in nature and therefore the yield on these investments moves in line with the central banks raising base rates.
The promotion to the FTSE 250, will come into effect at the close of Friday 16 September.
“TFIF’s promotion to the FTSE 250 is positive news for shareholders and the Fund, as this increases the Company’s stock market profile and helps diversify the investor base ,” said Aza Teeuwen, portfolio manager for TwentyFour Income Fund.
Aza continues, “Overall we think it’s a positive time for the Fund, fundamental performance in the portfolio remains strong and ABS structures are robust, having been significantly strengthened since 2008. We believe shareholders should continue to benefit from rising rates and widening credit spreads”.