TwentyFour Select Monthly Income Fund Ltd
TwentyFour Select Monthly Income Fund Limited is a closed-ended fixed income mutual fund launched by Numis Securities Ltd. The fund is managed by TwentyFour Asset Management LLP. It invests in fixed income markets of the United Kingdom. The fund primarily invests in "less liquid" instruments across the debt spectrum, including asset backed securities, bank capital, corporate loans, high yield bon… Read more
TwentyFour Select Monthly Income Fund Ltd (SMIF) - Net Assets
Latest net assets as of September 2025: GBX272.72 Million GBX
Based on the latest financial reports, TwentyFour Select Monthly Income Fund Ltd (SMIF) has net assets worth GBX272.72 Million GBX as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX278.47 Million) and total liabilities (GBX5.75 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX272.72 Million |
| % of Total Assets | 97.93% |
| Annual Growth Rate | 7.49% |
| 5-Year Change | 80.21% |
| 10-Year Change | 75.71% |
| Growth Volatility | 11.59 |
TwentyFour Select Monthly Income Fund Ltd - Net Assets Trend (2014–2025)
This chart illustrates how TwentyFour Select Monthly Income Fund Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for TwentyFour Select Monthly Income Fund Ltd (2014–2025)
The table below shows the annual net assets of TwentyFour Select Monthly Income Fund Ltd from 2014 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | GBX272.72 Million | +24.09% |
| 2024-09-30 | GBX219.77 Million | +20.96% |
| 2023-09-30 | GBX181.69 Million | +20.06% |
| 2022-12-31 | GBX151.33 Million | 0.00% |
| 2022-09-30 | GBX151.33 Million | -14.98% |
| 2021-09-30 | GBX178.00 Million | -7.70% |
| 2020-09-30 | GBX192.86 Million | +14.92% |
| 2019-09-30 | GBX167.83 Million | -1.13% |
| 2018-09-30 | GBX169.74 Million | +9.36% |
| 2017-09-30 | GBX155.21 Million | +13.44% |
| 2016-09-30 | GBX136.82 Million | +1.68% |
| 2015-09-30 | GBX134.56 Million | +9.23% |
| 2014-09-30 | GBX123.19 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to TwentyFour Select Monthly Income Fund Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 1068216000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | GBX283.40 Million | 103.92% |
| Total Equity | GBX272.72 Million | 100.00% |
TwentyFour Select Monthly Income Fund Ltd Competitors by Market Cap
The table below lists competitors of TwentyFour Select Monthly Income Fund Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Maxwell Resource
PINK:BCDS
|
$93.37 |
|
CN ZHENGTONG
BE:ZA0
|
$93.75 |
|
Bright Kindle Resources & Investments Inc
PSE:BKR
|
$93.86 |
|
Altisource Asset Management Corporation
PINK:AAMCF
|
$94.00 |
|
MODERN BEAUTY SALON
MU:M3L
|
$93.12 |
|
SOLARGIGA ENERGY
MU:3FV
|
$92.86 |
|
Kendrick Resources PLC
LSE:KEN
|
$92.77 |
|
CNXXW
PINK:CNXXW
|
$92.69 |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TwentyFour Select Monthly Income Fund Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 219,767,370 to 272,718,193, a change of 52,950,823 (24.1%).
- Net income of 27,296,036 contributed positively to equity growth.
- Dividend payments of 22,011,136 reduced retained earnings.
- New share issuances of 47,328,250 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX27.30 Million | +10.01% |
| Dividends Paid | GBX22.01 Million | -8.07% |
| Share Issuances | GBX47.33 Million | +17.35% |
| Other Changes | GBX337.67K | +0.12% |
| Total Change | GBX- | 24.09% |
Book Value vs Market Value Analysis
This analysis compares TwentyFour Select Monthly Income Fund Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 87.78x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 76.45x to 87.78x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-09-30 | GBX1.11 | GBX84.80 | x |
| 2015-09-30 | GBX0.97 | GBX84.80 | x |
| 2016-09-30 | GBX3420546025.00 | GBX84.80 | x |
| 2017-09-30 | GBX1193907361.54 | GBX84.80 | x |
| 2018-09-30 | GBX5658103000.00 | GBX84.80 | x |
| 2019-09-30 | GBX0.91 | GBX84.80 | x |
| 2020-09-30 | GBX0.95 | GBX84.80 | x |
| 2020-12-31 | GBX0.95 | GBX84.80 | x |
| 2021-09-30 | GBX0.90 | GBX84.80 | x |
| 2021-12-31 | GBX0.90 | GBX84.80 | x |
| 2022-09-30 | GBX0.74 | GBX84.80 | x |
| 2022-12-31 | GBX0.74 | GBX84.80 | x |
| 2023-09-30 | GBX0.77 | GBX84.80 | x |
| 2024-09-30 | GBX0.93 | GBX84.80 | x |
| 2025-09-30 | GBX0.97 | GBX84.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TwentyFour Select Monthly Income Fund Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.01%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 110.59%
- • Asset Turnover: 0.09x
- • Equity Multiplier: 1.02x
- Recent ROE (10.01%) is above the historical average (4.17%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 1.05% | 82.56% | 0.01x | 1.02x | GBX-11.03 Million |
| 2015 | 1.30% | 74.83% | 0.02x | 1.02x | GBX-11.70 Million |
| 2016 | 4.31% | 0.00% | -0.03x | 1.02x | GBX-7.79 Million |
| 2017 | 13.38% | 183.73% | 0.07x | 1.03x | GBX5.25 Million |
| 2018 | 2.92% | 37.45% | 0.08x | 1.03x | GBX-12.02 Million |
| 2019 | 4.40% | 92.16% | 0.05x | 1.01x | GBX-9.40 Million |
| 2020 | 5.55% | 94.31% | 0.06x | 1.03x | GBX-8.58 Million |
| 2020 | 5.55% | 94.31% | 0.06x | 1.03x | GBX-8.58 Million |
| 2021 | 14.03% | 97.20% | 0.14x | 1.03x | GBX7.18 Million |
| 2021 | 14.03% | 97.20% | 0.14x | 1.03x | GBX7.18 Million |
| 2022 | -23.42% | 0.00% | -0.23x | 1.01x | GBX-50.58 Million |
| 2022 | -23.42% | 0.00% | -0.23x | 1.01x | GBX-50.58 Million |
| 2023 | 14.83% | 96.83% | 0.15x | 1.02x | GBX8.77 Million |
| 2024 | 17.97% | 97.55% | 0.18x | 1.04x | GBX17.52 Million |
| 2025 | 10.01% | 110.59% | 0.09x | 1.02x | GBX24.22K |
Industry Comparison
This section compares TwentyFour Select Monthly Income Fund Ltd's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $381,578,830
- Average return on equity (ROE) among peers: 2.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TwentyFour Select Monthly Income Fund Ltd (SMIF) | GBX272.72 Million | 1.05% | 0.02x | $93.19 |
| 3I Infrastructure PLC (3IN) | $1.25 Billion | 6.43% | 0.14x | $396.99K |
| 450 PLC (450) | $5.16 Million | -13.53% | 0.02x | $1.71K |
| abrdn Asian Income Fund Limited (AAIF) | $398.87 Million | 2.19% | 0.09x | $340.47 |
| Abrdn Asia Focus PLC (AAS) | $109.83 Million | -14.86% | 0.05x | $438.52 |
| Albion Technology & General VCT PLC (AATG) | $72.65 Million | 5.77% | 0.01x | $73.82 |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $343.29 Million | -4.87% | 0.24x | $16.84 |
| Aquila Energy Efficiency Trust PLC (AEET) | $97.38 Million | -0.64% | 0.00x | $2.38K |
| Aquila European Renewables Income PLC (AERI) | $316.90 Million | -0.37% | 0.13x | $2.47K |
| Artemis UK Future Leaders plc (AFL) | $111.28 Million | 27.82% | 0.00x | $409.33 |
| AVI Global Trust PLC (AGT) | $1.11 Billion | 12.82% | 0.15x | $2.81 Million |