Net Asset Value and Dividend

RNS Number : 6449D

SQN Asset Finance Income Fund Ltd

21 February 2020

 

21 February 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 and 13 February 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.

As at 31 January 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 31 January 2020, is as follows:

	Month-to-month return	1 year return	3 year return	Return since inception
	0.49%	7.43%	13.79%	13.72%

Dividends

The Company announces a dividend of 0.6042 pence per share for both the Ordinary Share and C Share classes for the month ended 31 January 2020, reflecting an annualised dividend of 7.25 pence for each share class. The dividend will be payable on 27 March 2020 to holders of each share class on the register on 6 March 2020. The ex-dividend date is 5 March 2020.

Mindful of feedback received from shareholders, the Company will be undertaking a review of its dividend policy as part of the Strategic Review.  Until that review is completed, the Board intends, subject to solvency considerations, to continue to pay a dividend of 0.6042 pence per Ordinary share even though this is not fully covered by underlying income received. 

The Board anticipates making an announcement in relation to the Strategic Review during April. 

NAV Footnote¹

The C Share NAV is quoted before deducting the 0.6042 pence per share dividend, announced on 24 January 2020 that went ex-dividend on 6 February 2020 and will be paid on 28 February 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 January 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 principals responsible for managing the portfolio are Neil Roberts and Jeremiah Silkowski.

 

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