Monthly NAV, Dividend and Investment Update

RNS Number : 6849W

SQN Asset Finance Income Fund Ltd

21 August 2015

 



21 August 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") update.

As at 31 July 2015, the Company's unaudited, estimated NAV was 99.45 pence per share.

Dividend

The Company is pleased to announce a dividend of 0.6042 pence per share for the month ended 31 July 2015, reflecting an annualised dividend of 7.25 pence per share. The dividend will be payable on 18 September 2015 to holders of ordinary shares on the register on 4 September 2015. The ex-dividend date is 3 September 2015.

Investment Update

The dividend is being paid at the full projected dividend rate which the Company believes will be sustainable.  Along with the full dividend, the Company expects incremental NAV growth to continue.

The portfolio remains diversified over more than 10 different industries and asset classes which is expected to remain consistent as the pipeline draws down. As at 21 August the Company has 20% of net assets in US dollar denominated investments, 21% in Euro denominated investments, with the balance of 59%, including un-invested cash, in Sterling. The US dollar and Euro-denominated principal and interest components of the portfolio are currently hedged.

The weighted average yield on investments in the portfolio remains above 9.5% with the weighted average remaining term on investments lengthening to approximately 68 months.

* Please note, the dividend announced on 20 July 2015, payable on 20 August, went ex-dividend on 30 July 2015.

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 Vicky Watson	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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