Asset Backed Opportunities Fund is managed by TwentyFour Asset Management LLP and is a sub-fund of MI TwentyFour Investment Funds, an umbrella open-ended investment company registered under the Financial Conduct Authority as a UK Authorised Investment Company with Variable Capital. MI TwentyFour Investment Funds is classified as a UK UCITS scheme.
The Fund aims to provide an attractive level of income along with an opportunity for capital growth. The Fund aims to target a net total return of the Bank of England’s SONIA Rate + 500-800bps per year.
However, there is no guarantee that the Fund will achieve a positive return over 12 months or any time period; your capital may be at risk and you may not get back the full amount originally invested.
The Fund will actively invest in a diversified portfolio of European asset-backed securities, where the securities will be backed by the assets of European institutions and issuers such as residential mortgages, commercial mortgages, automobile leases and loans, SME loans and other secured bonds. From time to time, it is possible that a significant portion of the portfolio may be invested in securities from a particular geographical region of Europe. A portion of the portfolio may, from time to time, be held in Money Market Funds, cash or cash equivalents, such as treasury bills and government bonds, in order to help manage the liquidity.
The Fund will aim to minimise currency risk by materially hedging the Fund’s exposure in the foreign exchange markets. The Fund will also have the ability to use derivatives to reduce or mitigate other risks. The choice of asset-backed securities will typically be guided by the risk and the yield although the potential for capital growth may also be a material factor. The Fund is not managed in reference to any benchmark index.
All data is as at 24 Jul 2024 unless otherwise indicated.
| Portfolio Manager | TwentyFour Asset Management LLP |
|---|---|
| Fund Domicile | United Kingdom |
| Share Class Currency | GBP |
| Year End | 31 March |
| Index | Bank of England SONIA Overnight Rate +500-800 bps |
| Fund Launch Date | 11 Apr 2017 |
| Share Class Launch date | 11 Apr 2017 |
| Distribution Type | Dist |
| Distribution Frequency | Quarterly |
| Dealing | Daily |
| Minimum investment | 40,000,000.00 |
| ISA/SIPP Eligible | Yes |
| Fund Registrations | GB |
| Share Class Registrations | GB |
| Highest since launch | 1.0667 |
|---|---|
| Lowest since launch | 0.8243 |
| Fund size in mln. | 67.32 |
| Management fee | 0.50% |
|---|---|
| OCF | 0.73% (30 Sep 2023) |
| ISIN | GB00BD5D3D88 |
|---|---|
| Bloomberg | TFABOII LN |
| SEDOL | BD5D3D8 |
| Authorised Corporate Director | Apex Fundrock Ltd |
|---|---|
| Auditor | Grant Thornton UK LLP |
| Registrar | Apex Fundrock Ltd |
| Share class | Currency | ISIN | Distrib. | Type | Launch date | Management fee | OCF | OCF Date |
|---|---|---|---|---|---|---|---|---|
| I Inc | GBP | GB00BD5D3D88 | Dist | Institutional | 11 Apr 2017 | 0.50% | 0.73% | 30 Sep 2023 |
* TER includes performance fee where applicable
