UK Mortgages gives acquisition update
UK Mortgages (UKML) and its investment manager, TwentyFour Asset Management LLP have announced that heads of terms have been agreed for the purchase of a recently originated pool of mortgages.
The transaction is expected to complete in the coming months and the likely size is expected to deploy the company’s current remaining investable capital.
UK Mortgages
UK Mortgages Limited aims to provide shareholders with access to stable income returns through the application of relatively conservative levels of leverage to portfolios of UK mortgages. The company expects that income will constitute the vast majority of the return to shareholders and that the return to shareholders will have a relatively low volatility and demonstrate a low level of correlation with broader markets.
The company targets a net total return on the Issue Price of between 7 and 10% a year.
TwentyFour Asset Management LLP
TwentyFour is a specialist in fixed income, headquartered in the City of London and a boutique of the Swiss based Vontobel Group. It is an asset management company and specialises in fixed income. For more information please visit TwentyFour’s website by clicking here
UKML : UK Mortgages gives acquisition update