UK Mortgages Limited

Name
UK Mortgages Limited
Manager
TwentyFour Asset Management LLP
Type
Closed Ended Investment Company
ISIN
GG00BXDZMK63
Sector
Debt - Structured Finance
Launched
07/07/2015
OCF
3.25 %
3 Year Sharpe
-0.25
Yield
7.4 %
Fund Size
£ 197.29 million
NAV
81
Gearing
-2
Discount Premium
-9
To invest in a diversified portfolio of UK residential mortgages. The company will purchase legacy portfolios with strong observable performance histories or new portfolios with robust underwriting standards; Primary origination mechanism may also be put in place; Leverage will be used, initially via a banking facility, before fully securitized term structure put in place.
Name
TwentyFour Asset Management LLP
Address
EC3V 3ND, London, United Kingdom
Legal Structure
Closed Ended Investment Company

Managers

Ben Hayward
Joined 07/07/2015
Rob Ford
Joined 07/07/2015

Before moving into portfolio management, Rob had a highly successful career as a fixed-income trader covering a broad range of instruments over a period of more than 20 years, including corporate bonds, gilts and asset-backed securities. Rob is one of the 7 founding partners of TwentyFour and a member of the four-strong portfolio management team where his primary responsibility is the co-management of the Firm’s Monument and Dynamic Bond Funds as well as a number of bespoke portfolios for institutional clients. Before founding TwentyFour, Rob was a partner and portfolio manager at Synapse Investment Management. Prior to this, Rob spent over 20 years at Barclays Capital (formerly BZW) in London, where he was latterly a Managing Director and Head of European ABS Trading. Rob has been trading asset-backed securities since their inception in the late 1980s and is one of the market’s leading authorities on the sector. Rob has also managed in other trading areas including establishing and running Barclays Capital’s highly successful LIBOR credit trading unit. As well as trading asset-backed securities, Rob has also traded corporate bonds and gilts. In his very early days he traded LIFFE futures and options.

Douglas Charleston
Joined 07/07/2015

Doug joined TwentyFour in 2013 as a portfolio manager with primary responsibilities for the firm’s Monument Bond Fund and a number of institutional portfolios. Prior to joining TwentyFour, Doug worked as a structurer on the Capital Markets desk at Lloyds Bank covering term securitisations, warehouse facilities and whole loan transactions across Europe. Before this, Doug spent time as a primary rating analyst at Standard & Poor’s Structured Finance Division after spending four years at Nationwide where he was both a portfolio manager on the Treasury Investment desk and formerly an analyst with the Asset Backed Funding team which established the Silverstone Master Trust programme.

Silvia Piva
Joined 07/07/2015

Silvia joined TwentyFour as a Portfolio Manager in the ABS team. Silvia’s main responsibility is managing the firm’s UK Mortgages Ltd fund, focusing both on investment and financing activities for the fund. Silvia brings to TwentyFour the asset-backed finance expertise she developed over almost nine years as a structurer and originator at the Royal Bank of Scotland, where her client base comprised the UK and Irish bank and building society sectors. Prior to that she was an M&A advisor for SME companies in Milan, Italy.

Shilpa Pathak
Joined 07/07/2015

Shilpa joined TwentyFour in 2013 as an analyst in the ABS team. Her primary responsibilities are to support the portfolio managers in developing the system architecture, modelling securities, building stress tests and conducting quantitative analysis. Shilpa completed her MBA from Cass Business School in 2013 and holds a bachelor’s degree from Indian Institute of Information Technology. Prior to joining TwentyFour, Shilpa worked as an Application Development Consultant at Dow Jones for 5 years and as a Software Developer at Dell for 3 years.

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