TwentyFour Sustainable Enhanced Income ABS Fund

Asset Backed Securities
ISIN
IE00BMX0BH45
Sedol
BMX0BH4
133.70
NAV
As at 9 May 2025
1.97%
Performance YTD

The investment objective of the Sub-Fund is to seek to achieve income and long-term capital growth.

A specialist fund that invests across a broad range of investment grade and non-investment grade European asset-backed securities (ABS), making use of less liquid securities to enhance the portfolio’s income.

TwentyFour Sustainable Enhanced Income ABS Fund invests predominantly in UK and European ABS, including mortgage-backed securities and collateralised loan obligations (CLOs). Up to 20% of the portfolio may be allocated to ABS securities outside of the UK and EU.

Investment objective

The Fund seeks to achieve income and long-term capital growth.

Why invest?

  • TwentyFour’s ABS expertise allows the team to target more attractive income in  lower rated, less liquid, higher yielding areas of the market.
  • The Fund may also invest in unrated debt securities through private placement funding trades, which are not publicly traded and are less liquid, but can provide investors with more favourable yields and structures.
  • Features such as credit enhancement, loss-absorbing reserve funds, and the legal separation of issuer and asset pool are built-in protections for ABS investors.
  • Transactions are highly transparent with detailed reports showing the performance of each loan in the asset pool, enabling investors to conduct their own research.
  • ABS remains a poorly understood asset class, meaning those that put in the effort and expertise can be rewarded with a complexity premium.
     

Investment Team

Insights

All data is as at 14 Oct 2024 unless otherwise indicated.

Fund performance

Performance for calendar years

2023 2022 2021 2020 2019
A Acc GBP GBP 14.3% -2.1% 3.6% 1.5% NA

All data is as at 9 May 2025 unless otherwise indicated.

Fund data
Portfolio Manager TwentyFour Asset Management LLP
Fund Domicile Ireland
Type of Fund Irish Authorised ICAV (QIAIF)
Share Class Currency GBP
Year End 28 February
Index Bank of England SONIA Overnight Rate
Fund Launch Date 20 Aug 2020
Share Class Launch date 1 Nov 2020
Distribution Type Acc
Dealing Weekly
Minimum investment 100,000.00
Fund Registrations GB, IE
Share Class Registrations GB, IE
Nav Information
Highest since launch 133.70
Lowest since launch 99.32
Fund size in mln. 256.80
Fees And Expenses
Management fee 0.45%
Identifiers
ISIN IE00BMX0BH45
Bloomberg TFEIAGI ID
SEDOL BMX0BH4
Parties
Auditor Grant Thornton
Depository Northern Trust Fiduciary Services (Ireland) Limited
Registrar Northern Trust International Fund Administration Services (Ireland) Limited
AIFM Waystone Management Company (IE) Limited
Fund Administrator Northern Trust

Available Share Classes

Share class Currency ISIN Distrib. Type Launch date Management fee
A Acc EUR EUR IE000PMRMT65 Acc Institutional 5 Dec 2023 0.45%
A Acc GBP GBP IE00BMX0BH45 Acc Institutional 1 Nov 2020 0.45%
A Inc GBP GBP IE00BMX0BJ68 Dist Institutional 20 Aug 2020 0.45%

Subject to change, without notice, only the current prospectus or comparable document of the fund is legally binding.

* TER includes performance fee where applicable

All data is as at 14 Oct 2024 unless otherwise indicated.

Rating Structure

Country Weighting

Sector Exposure

Maturity Exposure

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View all documents View latest documents

Document Date EN
Factsheets & Commentaries
Factsheet Apr 2025
Monthly Commentary Apr 2025
Legal Documents
Prospectus Supplement Aug 2024
Sales Prospectus Oct 2023
Sustainability Related Disclosures
Pre-contractual Disclosure Jul 2023
Sustainability Related Disclosures Jul 2023
Financial Reports
Annual Report Feb 2024
UK Tax Reporting
UK Tax Reporting Feb 2023
Dealing Information
Redemption Form Sep 2020
Subscription Form Sep 2021

RISKS

Subject to change, without notice, only the current prospectus or comparable document of the fund is legally binding.

  • Limited participation in the potential of single securities

  • Success of single security analysis and active management cannot be guaranteed

  • It cannot be guaranteed that the investor will recover the capital invested

  • Derivatives entail risks relating to liquidity, leverage and credit fluctuations, illiquidity and volatility

  • The structure of ABS/MBS and the pools backing them might be intransparent which exposes the subfund to additional credit and prepayment risks (extension or contraction risks) depending on which tranche of ABS/MBS is purchased by the subfund

  • Typically, sub-investment grade securities will have a higher risk of default, and are generally considered to be more illiquid than investment grade securities

  • Information on how environmental and social objectives are achieved and how sustainability risks are managed in this Fund may be obtained from here.

  • The Sub-Fund’s investments may be subject to sustainability risks. The sustainability risks that the Sub-Fund may be subject to are likely to have an immaterial impact on the value of the Sub-Funds’ investments in the medium to long term due to the mitigating nature of the Sub-Fund’s ESG approach.
  • The Sub-Funds' performance may be positively or negatively affected by its sustainability strategy.

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