TwentyFour Income Fund Ltd (TFIF) - Net Assets
Based on the latest financial reports, TwentyFour Income Fund Ltd (TFIF) has net assets worth GBX867.57 Million GBX (≈ $105.56K USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX893.73 Million ≈ $108.74K USD) and total liabilities (GBX26.16 Million ≈ $3.18K USD). 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. Check how resilient are TwentyFour Income Fund Ltd's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | GBX867.57 Million |
| % of Total Assets | 97.07% |
| Annual Growth Rate | 9.4% |
| 5-Year Change | 47.16% |
| 10-Year Change | 153.08% |
| Growth Volatility | 11.97 |
TwentyFour Income Fund Ltd - Net Assets Trend (2014–2025)
This chart illustrates how TwentyFour Income Fund Ltd's net assets have evolved over time, based on quarterly financial data. Also explore TwentyFour Income Fund Ltd (TFIF) total assets for the complete picture of this company's asset base.
Annual Net Assets for TwentyFour Income Fund Ltd (2014–2025)
The table below shows the annual net assets of TwentyFour Income Fund Ltd from 2014 to 2025. For live valuation and market cap data, see market value of TwentyFour Income Fund Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | GBX843.79 Million ≈ $102.66K |
+3.72% |
| 2024-03-31 | GBX813.54 Million ≈ $98.98K |
+12.05% |
| 2023-03-31 | GBX726.05 Million ≈ $88.34K |
+1.05% |
| 2022-03-31 | GBX718.48 Million ≈ $87.42K |
+25.31% |
| 2021-03-31 | GBX573.36 Million ≈ $69.76K |
+20.61% |
| 2020-03-31 | GBX475.37 Million ≈ $57.84K |
-5.01% |
| 2019-03-31 | GBX500.47 Million ≈ $60.89K |
+6.48% |
| 2018-03-31 | GBX470.01 Million ≈ $57.19K |
+3.84% |
| 2017-03-31 | GBX452.61 Million ≈ $55.07K |
+35.75% |
| 2016-03-31 | GBX333.41 Million ≈ $40.57K |
-2.86% |
| 2015-03-31 | GBX343.23 Million ≈ $41.76K |
+9.29% |
| 2014-03-31 | GBX314.05 Million ≈ $38.21K |
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Equity Component Analysis
This analysis shows how different components contribute to TwentyFour 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 grown by 48.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX63.55 Million | 7.53% |
| Common Stock | GBX780.23 Million | 92.47% |
| Total Equity | GBX843.79 Million | 100.00% |
TwentyFour Income Fund Ltd Competitors by Market Cap
The table below lists competitors of TwentyFour Income Fund Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Beardsell Limited
NSE:BEARDSELL
|
$11.03 Million |
|
Corella Resources Ltd
AU:CR9
|
$11.03 Million |
|
Silver Range Resources Ltd
V:SNG
|
$11.03 Million |
|
RomReal Limited
OL:ROM
|
$11.04 Million |
|
Mitra Pemuda Tbk PT
JK:MTRA
|
$11.01 Million |
|
Guideline Geo AB (publ)
ST:GGEO
|
$11.01 Million |
|
Neurotech International Ltd
AU:NTI
|
$11.01 Million |
|
Schroder Oriental Income Fund
LSE:SOI
|
$11.00 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TwentyFour Income Fund Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 813,539,986 to 843,786,521, a change of 30,246,535 (3.7%).
- Net income of 104,731,066 contributed positively to equity growth.
- Dividend payments of 74,484,531 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX104.73 Million | +12.41% |
| Dividends Paid | GBX74.48 Million | -8.83% |
| Total Change | GBX- | 3.72% |
Book Value vs Market Value Analysis
This analysis compares TwentyFour 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: 94.48x
- 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 71.52x to 94.48x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-03-31 | GBX1.49 | GBX106.60 | x |
| 2015-03-31 | GBX1.25 | GBX106.60 | x |
| 2016-03-31 | GBX1.16 | GBX106.60 | x |
| 2017-03-31 | GBX1.24 | GBX106.60 | x |
| 2018-03-31 | GBX1.19 | GBX106.60 | x |
| 2019-03-31 | GBX1.24 | GBX106.60 | x |
| 2020-03-31 | GBX0.94 | GBX106.60 | x |
| 2021-03-31 | GBX1.13 | GBX106.60 | x |
| 2022-03-31 | GBX1.40 | GBX106.60 | x |
| 2023-03-31 | GBX1.09 | GBX106.60 | x |
| 2024-03-31 | GBX1.09 | GBX106.60 | x |
| 2025-03-31 | GBX1.13 | GBX106.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TwentyFour 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): 12.41%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 98.00%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 1.04x
- Recent ROE (12.41%) is above the historical average (6.74%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 16.34% | 99.02% | 0.16x | 1.00x | GBX19.92 Million |
| 2015 | 7.61% | 97.27% | 0.08x | 1.02x | GBX-8.20 Million |
| 2016 | -5.84% | 0.00% | -0.05x | 1.06x | GBX-52.83 Million |
| 2017 | 12.21% | 98.18% | 0.12x | 1.03x | GBX9.98 Million |
| 2018 | 9.59% | 98.24% | 0.10x | 1.02x | GBX-1.93 Million |
| 2019 | 1.39% | 84.57% | 0.02x | 1.08x | GBX-43.08 Million |
| 2020 | -13.64% | 0.00% | -0.13x | 1.05x | GBX-112.40 Million |
| 2021 | 22.15% | 99.11% | 0.21x | 1.05x | GBX69.66 Million |
| 2022 | 5.05% | 96.73% | 0.05x | 1.06x | GBX-35.54 Million |
| 2023 | -3.12% | 0.00% | -0.03x | 1.07x | GBX-95.09 Million |
| 2024 | 16.72% | 98.83% | 0.16x | 1.03x | GBX54.66 Million |
| 2025 | 12.41% | 98.00% | 0.12x | 1.04x | GBX20.35 Million |
Industry Comparison
This section compares TwentyFour 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: $745,852,800
- Average return on equity (ROE) among peers: 2.99%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TwentyFour Income Fund Ltd (TFIF) | GBX867.57 Million | 16.34% | 0.03x | $11.03 Million |
| 3I Infrastructure PLC (3IN) | $1.20 Billion | 4.98% | 0.15x | $42.14 Million |
| Albion Enterprise VCT PLC (AAEV) | $61.87 Million | 11.55% | 0.03x | $3.29 Million |
| abrdn Asian Income Fund Limited (AAIF) | $431.87 Million | 14.17% | 0.08x | $5.17 Million |
| Abrdn Asia Focus PLC (AAS) | $98.67 Million | 9.82% | 0.09x | $7.49 Million |
| Albion Technology & General VCT PLC (AATG) | $64.83 Million | 5.63% | 0.01x | $3.22 Million |
| Abrdn PLC (ABDN) | $4.56 Billion | 10.22% | 39.48x | $45.21 Million |
| Aberdeen Diversified Income and Growth Trust PLC (ADIG) | $426.87 Million | 6.29% | 0.20x | $450.86K |
| Aquila Energy Efficiency Trust PLC (AEET) | $69.67 Million | -2.91% | 0.02x | $261.59K |
| Aquila European Renewables Income PLC (AERI) | $372.54 Million | -8.03% | 0.00x | $79.35 Million |
| Artemis UK Future Leaders plc (AFL) | $174.91 Million | -21.80% | 0.02x | $415.29 |
About TwentyFour Income Fund Ltd
TwentyFour Income Fund Limited is a closed-ended fixed income mutual fund launched by Numis Securities Limited. The fund is managed by TwentyFour Asset Management LLP. It invests in the fixed income markets of Europe. The fund primarily invests in asset backed securities. It seeks to invest in securities across the maturity spectrum. The fund employs fundamental analysis with both top-down and bo… Read more