Asset Backed Opportunities Fund

Asset-Backed Securities
ISIN
GB00BD5D3D88
Sedol
BD5D3D8
1.00
NAV
As at 19 Jun 2024
7.57%

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.

Investment Objective

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.

Investment Approach

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.

Investment Team

Insights

All data is as at 19 Jun 2024 unless otherwise indicated.

Fund data
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
Nav Information
Highest since launch 1.0667
Lowest since launch 0.8243
Fund size in mln. 68.09
Fees And Expenses
Management fee 0.50%
OCF 0.73% (30 Sep 2023)
Identifiers
ISIN GB00BD5D3D88
Bloomberg TFABOII LN
SEDOL BD5D3D8
Parties
Authorised Corporate Director Apex Fundrock Ltd
Auditor Grant Thornton UK LLP
Registrar Apex Fundrock Ltd

Available Share Classes

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

View all documents View latest documents

Document Date EN
UCITS KIIDs
KIID Jan 2024
Legal Documents
Sales Prospectus May 2024
Financial Reports
Annual Report Mar 2023
Semi-Annual Report Sep 2023