TwentyFour set to boost trust suite

Fixed income house TwentyFour Asset Management is set to pounce on the success of its first closed-end launch with the addition of more investment trusts to its range.

TwentyFour set to boost trust suite

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Ben Hayward, founding partner and portfolio manager, said the house is considering launching more closed-end funds, following hot on the heels of its popular TwentyFour Income Fund which came to market in March after attracting £150m.

Hayward said: "The trust has worked very well for our business and the investment trust market is proving very useful within fixed income.

“In the not too distant future we will look to come back to that with other funds."

Following its flotation, the board of TwentyFour Income, which invests in European asset backed securities, sought to raise extra capital and now stands at around £290m.

Hayward confirmed any new vehicles launched by the house would also be focused on fixed income, where the market may not be liquid enough for open-end structures.

 

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