Net Asset Value, Dividend and Investment Update

RNS Number : 9723H

SQN Asset Finance Income Fund Ltd

20 March 2015

 

20 March 2015

SQN Asset Finance Income Fund Limited

Monthly Net Asset Value, Dividend and Investment Update

Net Asset Value

SQN Asset Finance Income Fund Limited (the "Company"), the only diversified equipment leasing fund listed in the UK, is pleased to provide its monthly Net Asset Value ("NAV").

As at 28 February 2015, the Company's unaudited, estimated NAV was 98.90 pence per share (cum-income). This includes the 0.30 pence per share dividend announced on 24 February 2015 that went ex-dividend on 6 March 2015 and was paid on 19 March 2015. On a pro-forma basis, the unaudited estimated NAV, adjusted for the payment of the dividend, is 98.60 pence per share.

Dividend

The Company is pleased to announce a dividend of 0.33 pence per share for the month ended 28 February 2015. The dividend will be payable on 22 April 2015 to holders of ordinary shares on the register on 7 April 2015. The ex-dividend date is 2 April 2015.

Investment Update

To date, the Company has funded approximately £80.2m of investments with the balance of the net IPO proceeds expected to be funded over the coming months, with a significant proportion expected to be drawdown in April.

The portfolio remains diversified over more than 10 different asset classes with that balance expected to be maintained as the pipeline draws down. The Company has 26% of capital raised in US dollar denominated investments, 9% in Euro denominated investments, with the balance of 65%, including un-invested cash, in Sterling. As the portfolio develops, it is expected that the dollar and euro positions will increase, however we will continue to hedge these positions, where appropriate.

For further information please contact:

SQN Capital Management, LLC Jeremiah Silkowski Neil Roberts	01932 575 888
Winterflood Securities Limited	020 3100 0000
Joe Winkley Neil Langford
Buchanan Charles Ryland Sophie McNulty Jason Day	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 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 Manager is SQN Capital Management, LLC, a Registered Investment Advisor with the United States Securities and Exchange Commission. The principals responsible for managing the portfolio are Jeremiah Silkowski and Neil Roberts.

 

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