Net Asset Value(s)

RNS Number : 3048A

SQN Asset Finance Income Fund Ltd

19 December 2014

 

19 December 2014                                                          

SQN Asset Finance Income Fund Limited

Monthly Net Asset Value 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 30 November 2014, the Company's unaudited, estimated NAV per share was 98.61 pence per share.

Investment Update

As at 19 December 2014 the Board had approved £132.9 million of investments. Of this, a total of £58.6 million has been funded in full or partial payments against the £106.6 million of committed/documented  investments.

The Company expects to fund at least a further £35 million within the next month.

The invested portfolio is 41.3% UK (Sterling) and 58.7% US (Dollar) and the committed investments (excluding amounts funded) are 40.5% Sterling, 11.9% US Dollar and 47.6% Euro.

The Portfolio's largest concentrations (as percentages of funded deals) are

-       Shipping 24% (2 dry bulk carriers)

-       Technology 18.6% (various)

-       Hospitality 17.2% (Snoozebox portable hotel rooms)

-       Offshore Support 10.3% (remotely operated vehicles and support equipment)

A more detailed half-year update will be provided in January 2015.

The Company continues to be pleased by the diverse range of assets in the portfolio and pipeline. The Company expects to commence monthly dividends from January 2015 in line with the policy set out in the prospectus at the time of the initial public offering in July 2014.

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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