Asset Backed Opportunities Fund is managed by TwentyFour Asset Management LLP and is a sub-fund of MI TwentyFour Investment Funds, an umbrella open-ended investment company registered under the Financial Conduct Authority as a UK Authorised Investment Company with Variable Capital. MI TwentyFour Investment Funds is classified as a UK UCITS scheme.
The Fund will actively invest in a diversified portfolio of European asset-backed securities, where the securities will be backed by the assets of European institutions and issuers such as residential mortgages, commercial mortgages, automobile leases and loans, SME loans and other secured bonds. From time to time, it is possible that a significant portion of the portfolio may be invested in securities from a particular geographical region of Europe. A portion of the portfolio may, from time to time, be held in cash or cash equivalents, such as treasury bills and government bonds, in order to help manage the liquidity.
The Fund will aim to minimise currency risk by materially hedging the Fund’s exposure in the foreign exchange markets. The Fund will also have the ability to use derivatives to reduce or mitigate other risks. The choice of asset-backed securities will typically be guided by the risk and the yield although the potential for capital growth may also be a material factor. The Fund is not managed in reference to any benchmark index.