Monthly Net Asset Value and Dividend

RNS Number : 2787H

SQN Asset Finance Income Fund Ltd

24 March 2020

 

24 March 2020

SQN Asset Finance Income Fund Limited

Monthly Net Asset Value and Dividend

Net Asset Value and Performance

Further to the announcements made on 20 and 24 January 2020, 13 February 2020 and 5 March 2020, the publication of the NAV per Ordinary Share has been delayed whilst the Company undertakes a valuation of certain Anaerobic Digestion ("AD") assets.  The Company will announce an update once this review has been completed. It is anticipated that an announcement will be made before the end of March.

As at 29 February 2020, the unaudited estimated NAV per C Share ¹ , which is not impacted by the valuation of the AD assets, was 97.90 pence .

The Company also announces the cumulative NAV total return² performance for the C Share class, as at 29 February 2020, is as follows:

	Month-to-month return	1 year return	3 year return	Return since inception
	0.61%	7.52%	14.54%	14.41%

Dividends

On 18 March 2020 the Company announced it would be suspending the declaration of further dividend payments on both the Ordinary and C Shares until further notice in order to conserve liquidity until the impact of COVID-19 and the results of the Strategic review can be determined.  This is a temporary suspension and the Company hopes to re-establish dividends in due course.

NAV Footnote¹

The C Share NAV is quoted before deducting the 0.6042 pence per share dividend, announced on 21 February  2020 that went ex-dividend on 5 March 2020 and will be paid on 27 March 2020.

Performance Footnote²

The NAV total return details the change in NAV from the start of the relevant period and assumes that dividends paid to shareholders are reinvested at NAV.

Factsheet

The Company's factsheet for February 2020 will shortly be available on the website:  www.sqncapital.com/managed-funds/sqn-asset-finance-income-fund . 

For further information please contact:

SQN Capital Management, LLC Jeremiah Silkowski Nicola Bird - [e-mail]   Catherine Halford Riera - [e-mail]	01932 575 888
Winterflood Securities Limited	020 3100 0000
Neil Langford Chris Mills
Buchanan Charles Ryland Victoria Hayns Henry Wilson	020 7466 5000

Notes to Editor

The Company invests in equipment lease and asset finance arrangements across a diverse portfolio of assets and industries predominantly in the UK, Northern Europe and US. The Company focuses on business-essential, revenue-producing (or cost saving) equipment and other assets with high in-place value and long economic life relative to the investment term.

The Company's Investment Managers are SQN Capital Management, LLC, a Registered Investment Advisor with the United States Securities and Exchange Commission and its subsidiary, SQN Capital Management (UK) Limited. The principal responsible for managing the portfolio is  Jeremiah Silkowski.

 

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