TwentyFour Income Fund – A Question of Transparency

ShareSoc Writes to TwentyFour Asset Management Expressing Concerns 

A member of ShareSoc/SIGnet has raised concerns regarding the transparency of the TwentyFour Income Fund. In response, we have written an open letter to the fund’s manager, TwentyFour Asset Management, and await their response with interest. 

As Buffett has emphasised, before making any investment, you should understand what you are investing in. Without adequate disclosure regarding the assets held in the fund, it is impossible to gain such an understanding. 

 

3 Comments
  1. Michael says:

    I’m noticing the announcement by TFIF about a share placing today. What was the reply from TFIF with regards to the open letter?

    • Mark Bentley says:

      Hi Michael,

      After we chased, we now have a meeting with TFIF arranged for Monday. Will update on the outcome.

      Best,

      Mark

  2. Mark Bentley says:

    Together with one of our members and another ShareSoc director, I met with TFIF’s “product manager” today.

    It was a useful meeting and we expect to receive a formal response to our open letter in due course. TFIF claimed that compliance matters made it difficult for them to release much more detail to retail investors and that they didn’t provide any further detail to their institutional investors either.

    TwentyFour Asset Management is not authorised to communicate directly with retail investors.

    However, two positives came out of the meeting. Firstly, TFIF does have a website: https://twentyfourincomefund.com/ where much information is available to retail investors. More significantly, however, they are delivering a presentation regarding the forthcoming share offer via the IMC platform this Wednesday: https://www.investormeetcompany.com/meetings/investor-presentation-913 We understand that this presentation will include valuable information about delinquencies in underlying loans, so encourage anyone with an interest to sign-up for the webinar.

    We encouraged TFIF to provide this data to investors on a more regular basis, which would provide a better basis to monitor changes in the level of risk.

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