TwentyFour Select Monthly Income Fund - Interim Management Report and Unaudited Condensed Interim Financial Statements
LEI: 549300P9Q5O2B3RDNF78
(Classified Regulated Information, under DTR 6 Annex 1 section 1.2)
Interim Management Report and Unaudited Condensed Interim Financial Statements
For the period from
The Directors of
SUMMARY INFORMATION
Financial and Operational Highlights
-- NAV per share of81.18 pence (30 September 2023 :75.44 pence ) -- Total Net Assets of £197.73 million (30 September 2023 : £181.69 million) -- Dividends per share declared for the 6 month period of3.25 pence per share (12 months to30 September 2023 :7.37 pence per share) and remain on track to exceed the Company's target dividend for the year -- Total Return of 13.87% (12 months to30 September 2023 : 17.54%)
We are very pleased to present the interim financial statements for the Company.
Having reached the 10
th
anniversary of the Company's IPO in March this year
,
SMIF continues to deliver an excellent income story, with dividends declared for the 6 month period to
Additionally during the period, the Company's NAV per share grew by 7.61%, and this, together with the net re-issue of 2.75 million shares from treasury (all of which have been accretive to the Company having been re-issued at a premium to their purchase price and to NAV at the time of re-issue), has meant the Company had total net assets of £197.31 million as at
The strong macro economic environment coupled with a positive supply and a higher rate environment has enabled us to position SMIF positively over the period. All sectors in the portfolio delivered a positive return, which combined with accretive additions and relative value switches, has contributed to the high income earned, while increasing the overall credit profile.
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