Company summary
TwentyFour Income Fund invests primarily in asset-backed securities and other structured credit to generate a high level of income. The portfolio is actively managed across mortgage-backed, consumer and specialist credit markets.
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TFIF
Twentyfour Income Fund
Investment Trusts
- Index
- FTSE 250
- ISIN
- Not specified
- Book status
- 2026 edition — current
Key activities
Investment in asset-backed securities, residential and commercial mortgage-backed securities, collateralised loan obligations and other income-producing credit instruments.
Key markets
UK and European structured-credit markets, with selective international exposure through diversified asset-backed securities.
Key drivers
Credit spreads, interest rates, default rates, portfolio yields, reinvestment opportunities, security selection and demand for high-income assets.
Key risks
Credit defaults, widening spreads, illiquid securities, recession, refinancing stress, interest-rate volatility and complex structured-product risks.
Recent Developments
June 2026 annual results reported a 6.85% NAV total return for the year to 31 March and net assets of £926.5m, after raising £113.4m of new capital during the year. Income remains well covered, but credit spreads, defaults and opportunities to reinvest maturing securities will determine returns through 2027.
Dividend notes
TFIF pays quarterly and targets an annual dividend equivalent to 8% of the issue price. FY2026 dividends totalled 10.81p per share, comfortably above the 8p target; the latest 2.0p quarterly dividend went ex-dividend on 16 July 2026 and was paid on 31 July.
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