Oversubscribed TwentyFour mortgage trust raises £250m

Alice Rigby
clock

TwentyFour Asset Management's UK Mortgages investment trust has raised £250m during its initial public offering.

Demand for the shares exceeded the £250m maximum set by the trust, reaching over £325m, TwentyFour said. Latest P2P trust targets £100m as alternatives boom continues UK Mortgages Limited will apply "relatively conservative" levels of leverage to portfolios of UK mortgages, which will include legacy portfolios with strong histories and newer ones with robust underwriting. It will be managed by TwentyFour's Ben Hayward (pictured) and Douglas Charleston. The trust, which aims to produce an annual total return of 7% to 10% once the portfolio is fully invested, is the latest in a...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot