Overview
SLF Realisation Fund (formerly KKV Secured Loan Fund : KKVL and before that SQN Asset Finance Income) aimed to provide its shareholders with regular, sustainable dividends and to generate capital appreciation through investment, directly or indirectly, in business-essential, revenue-producing (or cost-saving) equipment and other physical assets.
The company is in realisation mode – returning cash to investors.
You can access the fund’s website here
Research History
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05 Jan 2023 9 min read
QuotedData’s Investment Companies Roundup – January 2023
December 2022 Monthly roundup | Investment companies Winners and losers in December 2022 The Financials sector only has two constituents, one of these – Trian Investors 1 – has seen its discount narrow since it promised to return cash to investors by next June, and it has also benefited from underlying NAV appreciation. Last month’s […]
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07 Dec 2022 8 min read
QuotedData’s Investment Companies Roundup – December 2022
Investment Companies Monthly Roundup Kindly sponsored by abrdn December 2022 Monthly | Investment companies Winners and losers in November 2022 As discussed in this month’s economic and political roundup, lower US inflation triggered a fall in the US dollar and drove equity markets higher over November. The big surprise was the resurgence of Chinese markets […]
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16 Oct 2020 11 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit Stubborn resistance The end […]
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10 Sep 2020 6 min read
QuotedData’s Investment Companies Roundup – September 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over August: Aberdeen New Dawn – COVID positive “In […]
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07 May 2020 8 min read
QuotedData’s Investment Companies Roundup – May 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over April: An update note […]
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4 min read
QuotedData’s Economic Roundup – May 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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17 Apr 2020 8 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
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07 Feb 2020 7 min read
QuotedData’s Investment Companies Roundup – February 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over January: An annual overview note on Shires Income (SHRS) “Shires Income (SHRS) will […]
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06 Dec 2019 6 min read
QuotedData’s investment companies roundup – December 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Income Events New research Here is a list of research we published over November: An initiation note on Henderson High Income “We have initiated coverage on Henderson High Income (HHI). Since […]
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12 Nov 2019 5 min read
QuotedData’s investment companies roundup – November 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over October, we published notes on Pacific Horizon, Seneca Global Income & Growth, Premier Global Infrastructure, Polar Capital Global Financials, Ecofin Global Utilities and Infrastructure, Aberdeen Standard European Logistics Income and Herald. Additionally, as part of our enhanced coverage of the property sector, we launched […]
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07 Oct 2019 6 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Aug 2019 3 min read
QuotedData’s investment companies roundup – August 2019
Investment Companies Roundup New research Over July, we published notes on CQS New City High Yield, BlackRock Throgmorton, Strategic Equity Capital, Seneca Global Income & Growth, CG Asset Management, Standard Life Investments Property Income and Aberdeen New Dawn. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – appetite […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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07 Feb 2018 2 min read
QuotedData investment companies roundup – February 2018
QuotedData investment companies roundup – February 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2018. Kindly sponsored by Baillie Gifford. The oil price was up again over the month and this helped propel […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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11 Dec 2017 2 min read
QuotedData investment companies roundup – December 2017
QuotedData investment companies roundup – December 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2017. Kindly sponsored by Baillie Gifford. December Investment Companies Roundup Money raised and returned in November There were no […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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12 Oct 2017 1 min read
QuotedData investment companies roundup – October 2017
QuotedData investment companies roundup – October 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2017. Kindly sponsored by Baillie Gifford. October Investment Companies Roundup Amongst the top performers, Alternative Liquidity Fund sold its […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
News
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02 Oct 2023 2 min read
SLFR continues to return capital to shareholders
SLF Realisation Fund (SLFR) released its annual results for the 12 months ending 30 June 2023. We note that SLFR is undergoing a managed wind down. Over the period SLFR reported a NAV total return of (25.8%) per ordinary share, and (2.7%) for 2016 C share. The chairman believes that significant progress was made over […]
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20 Jul 2023 2 min read
QuotedData’s morning briefing 20 July 2023
In QuotedData’s morning briefing 20 July 2023: Bellevue Healthcare (BBH) is operating an annual redemption facility as usual this year. However, to be eligible to take part in November/December, you must be holding shares at 2 September 2023. This is to give the company the chance to get the paperwork done for what it fears […]
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24 Oct 2022 1 min read
QuotedData’s morning briefing 24 October 2022
In QuotedData’s morning briefing 24 October 2022: Ecofin U.S. Renewables Infrastructure (RNEW) says that its investment manager, Ecofin Advisors, has appointed Eileen Fargis as the Ecofin group lead and portfolio manager for RNEW, effective today. Eileen has over 20 years’ industry experience, most recently as head of investments for InterEnergy Holdings, an independent developer, owner, […]
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12 Jul 2022 1 min read
QuotedData’s morning briefing 12 July 2022
In QuotedData’s morning briefing 12 July 2022: Chrysalis (CHRY) holding, Wefox, the Berlin-based insurtech platform, has successfully closed a Series D funding round, raising $400m (comprising equity and debt) which now values the business at $4.5bn. The current valuation makes it the world’s most valuable privately held insurtech asset.The current valuation compares against the $3bn […]
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10 Jan 2022 4 min read
QuotedData’s morning briefing 10 January 2022
In QuotedData’s morning briefing 10 January 2022: Following its decision to terminate its investment management arrangement with KKV Investment Management, Secured Income Fund (SSIF) is now a self managed AIFM. The company has entered into a consultancy agreement to secure the services of one of the individuals previously employed by KKVIM and who has the […]
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17 Nov 2021 2 min read
QuotedData’s morning briefing 17 November 2021
In QuotedData’s morning briefing 17 November 2021: Caledonia (CLDN) has agreed terms to divest its investment in BioAgilytix, a leading provider of bioanalytical testing for large molecule research and development, as private equity firm Cinven, becomes the new lead investor. The transaction is subject to US anti-trust approvals and is expected to complete in December […]
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07 Oct 2021 1 min read
QuotedData’s morning briefing 7 October 2021
In QuotedData’s morning briefing 7 October 2021: JZ Capital Partners has agreed with its existing senior lenders to borrow a further amount of $16.0m under its senior secured debt facility. This is a ‘first out loan’ which means it gets repaid first as the company frees up cash from its portfolio. The interest rate is […]
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20 Aug 2021 2 min read
QuotedData’s morning briefing 20 August 2021
In QuotedData’s morning briefing 20 August 2021: EP Global Opportunities (EPG) has announced its interim results for the half-year ended 30 June 2021. At the half-year end, EPG’s NAV was 314.6p, an increase of 2.0% from the 31 December 2020 NAV of 308.4p. After taking account of the final dividend of 6.0p per share that was paid […]
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19 Aug 2021 1 min read
QuotedData’s morning briefing 19 August 2021
In QuotedData’s morning briefing 19 August 2021: Custodian REIT has paid £1.9m to buy a 29,676 sq ft industrial unit on Wester Gourdie Industrial Estate, Dundee, adjacent to the A90. The unit is occupied by Menzies Distribution Limited with an unexpired term to first break or expiry of 5.2 years. The unit has a passing rent of £117,500 […]
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10 Aug 2021 2 min read
QuotedData’s morning briefing 10 August 2021
In QuotedData’s morning briefing 10 August 2021: Literacy Capital (BOOK) says that Butternut Box, a business providing healthy, fresh dog food on a subscription to dog owners’ doors, has finalised a funding round to raise further equity to support the continued growth of the business. As at 30 June 2021, Butternut Box was Literacy Capital’s 3rd largest […]
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05 Aug 2021 2 min read
QuotedData’s morning briefing 5 August 2021
In QuotedData’s morning briefing 5 August 2021: JPEL Private Equity is returning $85m to investors – using cash it had on its balance sheet and the proceeds of its sale of Swania International. Effectively, this will mean the compulsory redemption of about 42.5m JPEL shares, about 51.5% of the company. The redemption price is based on […]
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07 Jul 2021 2 min read
QuotedData’s morning briefing 7 July 2021
In QuotedData’s morning briefing 7 July 2021 – KKV Secured Loan (KKVL) is to return £10.6m to ordinary shareholders and £9.7m to C shareholders. This return of capital will be effected by way of an issue of redeemable B and D shares to existing shareholders. FastForward Innovations (FFWD) topped up its investment in South West Brands with […]
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28 May 2021 3 min read
QD view – Got gas?
This week, I was given the opportunity to speak at the Anaerobic Digestion and Biogas Association’s (ADBA’s) spring finance forum. We heard from a number of interesting speakers on the challenges that this relatively new industry faces and the innovative solutions that are being implemented to address these. At present, within the listed renewables funds […]
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23 Mar 2021 1 min read
QuotedData’s morning briefing 23 March 2021
In QuotedData’s morning briefing 23 March 2021: Axiom European Financial Debt reports flat returns to shareholders and 1.7% return on NAV for 2020. NAV and share price falls were offset by income. The dividend was maintained at 6p and the company thinks this is sustainable in 2021. The report breaks down activity and returns month by […]
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22 Mar 2021 1 min read
Glasshouse loan deal frees up cash for KKV
Glasshouse loan deal frees up cash for KKV – Triple Point Energy Efficiency Infrastructure (TEEC) has refinanced a loan in KKV Secured Loan’s portfolio. It turns out that one of this deal was one of the target CHP+ assets that Triple Point had identified at IPO. These are held by Harvest Generation Services and Glasshouse Generation. Under the terms […]
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25 Feb 2021 2 min read
QuotedData’s morning briefing 25 February 2021
In QuotedData’s morning briefing 25 February 2021: Following its recent good news, KKV Secured Loan Fund will hand back 5p per share (£17.8m) to ordinary shareholders and 12p per share (£16.7m) to C shareholders. The ex date for these distributions will be 5 March 2021 and payment should arrive within the next couple of weeks after […]
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19 Feb 2021 1 min read
QuotedData’s weekly news show 19 February 2021
QuotedData’s weekly news show 19 February 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: JLEN Environmental Assets expanding remit KKV Secured Loan update BH Global – shareholders to vote on BH Global fees […]
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18 Feb 2021 1 min read
KKV Secured Loan secures an exit and an NAV uplift
KKV Secured Loan secures an exit and an NAV uplift – Finally, some better news for investors in KKV Secured Loan as it reports that it has received net proceeds of $24.3m from the refinancing of two existing investments in a US based reinsurance company. These investments are referred to as Borrowers 7 and 9 in […]
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27 Jan 2021 3 min read
KKV Secured Loan says the most challenging period may still be ahead for its borrowers
The direct lending sector fund, KKV Secured Loan (KKVL), formerly SQN Asset Finance Income), reported its annual results for the year-ending period to 30 June 2020. In NAV total return terms, the ordinary shares delivered -56.1% and the C shares -25.0%. The period-ending discounts for the ordinary and C shares were 11.9% and 16.4%. We […]
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04 Jan 2021 1 min read
QuotedData’s morning briefing 4 January 2021
In QuotedData’s morning briefing 4 January 2021 – SDCL Energy Efficiency Income (SEIT) announced the acquisition of an additional 15% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, from a consortium led by Fortistar LLC for a cash consideration of approximately $36m. SEIT acquired an initial 50% interest in Primary Energy in […]
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23 Nov 2020 2 min read
KKV Secured Loan issue valuation update
KKV Secured Loan issue valuation update – following an reappraisal of the whole portfolio, assisted by the review of certain assets undertaken by KPMG, the net asset value as at 30 June 2020 is currently expected to be £128.8m (36.2p per share) for the ordinary shares and £94.7m (68.2p per share) on the C shares. However, […]
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01 Oct 2020 2 min read
QuotedData’s morning briefing 1 October 2020
In QuotedData’s morning briefing 1 October 2020: Octopus Renewables Infrastructure Trust is buying four solar PV sites in Andalucia, which are expected to be ready to build by January 2023. The assets will have a total installed capacity of 175MWp and are expected to become operational in early 2024. The company is not taking any development risk […]
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25 Sep 2020 1 min read
QuotedData’s weekly news show 25 September 2020
In QuotedData’s weekly news show 25 September 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: Temple Bar appointing RWC Asset Management Bluefield Solar’s results Hipgnosis launching £250m fundraise but ‘only’ raising £190m KKV Secured Loan is […]
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1 min read
KKV Secured Loan Fund announces plans for full wind-down
KKV Secured Loan Fund Limited (KKVL –formerly SQN Asset Finance Income Fund Limited) has announced the board’s intention to put forward proposals for a managed wind-down of the Company, both the Ordinary Share class and the C Share class. Background to the wind-down proposals At an Extraordinary General Meeting on 16 July 2020, shareholders voted […]
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24 Sep 2020 1 min read
QuotedData’s morning briefing 24 September 2020
In QuotedData’s morning briefing 24 September 2020 Good progress with the construction of Gore Street Energy Storage’s Irish assets has helped deliver a 1.6p increase in the fund’s NAV over the second quarter of 2020 to 96.2p. An interim dividend of 2p has been declared, making 7p in total for the year ending 31 March 2020. […]
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17 Jul 2020 2 min read
QuotedData’s morning briefing 17 July 2020
In QuotedData’s morning briefing 17 July 2020: BMO Private Equity Trust has announced the appointment of Nplus1 Singer Advisory LLP as its sole corporate broker, with immediate effect. Tetragon Financial Group (TFG) will be hosting a conference call for investors on Friday, 31 July 2020 at 15:00 BST / 10:00 EDST. The call is to […]
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08 Jul 2020 3 min read
SQN Asset Finance Income’s manager says sustainable dividend unlikely to be re-established in the near future
Leasing sector company, SQN Asset Finance Income (SQN), has released a detailed investment update from its manager, KKV Investment Management (KKV). KKV took on responsibility for the portfolio in June.The update covers SQN’s ordinary and C share classes. ‘Sustainable dividend unlikely to be re-established in the near future’ Some of the high-level highlights made in the report, […]
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16 Jun 2020 2 min read
SQN Asset Finance sets out plan for future
SQN Asset Finance sets out plan for future – On 30 April 2020, SQN Asset Finance Income announced that it would bring forward the triennial continuation vote from November 2020 and propose separate continuation resolutions for each share class. Here comes the detail. Summary of the Proposals (a) Proposed Ordinary Class Continuation Vote If the Ordinary […]
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08 Jun 2020 1 min read
QuotedData’s morning briefing 8 June 2020
As per the announcement made on 30 April, the board of SQN Asset Finance Income (SQN) has announced the appointment of KKV Investment Management (KKV) as portfolio manager of the company and the appointment of International Fund Management as the company’s AIFM. KKV is a newly formed investment management company, majority owned by Kvika Securities, the […]
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30 Apr 2020 3 min read
SQN manager reshuffle
SQN manager reshuffle – SQN Asset Finance Income has announced a change of manager. The management team is leaving SQN (which will now focus on its insurance business) and is moving to an Icelandic bank, Kvika Banki. The new manager will be called KKV Investment Management and it will be headed up by Dawn Kendall […]
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18 Mar 2020 1 min read
SQN Asset Finance Income suspends declaration of further dividend payments
SQN Asset Finance Income (SQN) made the following announcement with respect to the declaration of further dividend payments. “In light of the ongoing uncertainty in economies and markets, the board of the company resolved today to suspend the declaration of further dividend payments on both the ordinary and C share classes until further notice. In […]
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05 Mar 2020 1 min read
QuotedData’s other news 5 March 2020
In QuotedData’s other news 5 March 2020 Sirius Real Estate has secured €50m funding through a Schuldschein loan offering a blended interest rate of 1.60%, with an average maturity of 3.7 years. Urban Logistics REIT has topped up the £130m it raised the other day with a further £6.1m from its open offer and offer for subscription. […]
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25 Feb 2020 1 min read
QuotedData’s other news 25 February 2020
In QuotedData’s other news 25 February 2020 – JPMorgan Global Growth & Income (JPGI) delivered interim results to 31 December 2019. Over the period, the company saw a 4.7% total NAV return, which compares with a return of 4.6% from its benchmark (the MSCI All Countries World Index in sterling terms). The slight outperformance was the […]
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13 Feb 2020 1 min read
Plenty of interest in taking on SQN
Plenty of interest in taking on SQN – SQN Asset Finance Income’s board says that a large number investment managers have indicated an interest in taking on the management of the company. The board is asking for more information from those managers it feels could be suitable. Initial meetings with these managers are expected to take […]
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29 Jan 2020 1 min read
QuotedData’s other news 29 January 2020
In QuotedData’s other news 29 January 2020 SQN Asset Finance Income’s board set a deadline of Friday 31st January for proposals for the future of the fund The share prices of Asian and Chinese funds appear to have stabilised this morning after sharp falls on worries about the coronavirus. JPMorgan Chinese is trading at 340p, down […]
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24 Jan 2020 1 min read
QuotedData’s other news 24 January 2020
In QuotedData’s other news 24 January – Following on from its anaerobic digestion problems, SQN Asset Finance Income (SQN) has announced that its board has taken the decision to conduct a strategic review of the company’s operations. This will be wide- ranging to include the provision of investment management services.. Warehouse REIT (WHR), the specialist […]
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20 Jan 2020 1 min read
SQN Asset Finance anaerobic digestion problems
SQN Asset Finance anaerobic digestion problems – SQN Asset Finance Income Fund has invested in a total of 15 Anaerobic Digestion (“AD”) plants since its launch. Four have subsequently been exited profitably and 11 remain in the ordinary share portfolio. On 30 September 2019, the company said six plants were taking longer than anticipated to ramp […]
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30 Sep 2019 2 min read
Specialist fund SQN Asset Finance Income reports annuals
Specialist fund SQN Asset Finance Income reports annuals – SQN Asset Finance Income (SQN) has released results for the year to 30 June 2019. The fund looks to provide shareholders with regular, sustainable dividends and to generate capital appreciation through investment in business-essential, revenue producing (or cost saving) equipment and other physical assets. The company provides asset […]
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03 Oct 2018 2 min read
SQN Asset Finance Income’s operational focus supports performance
SQN Asset Finance Income’s operational focus supports performance – SQN Asset Finance Income Fund (SQN) has published its annual report for the year ending 30 June 2018. Performance of NAV The company’s NAV total return per share was +6.2%. For the 2016 C shares, the total return was +1.9%. The portfolio is performing well, with […]
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02 Feb 2018 1 min read
SQN finds new lessor for Snoozebox assets
SQN finds new lessor for Snoozebox assets – SQN Asset Finance Income Fund Limited has signed conditional agreements transferring the ownership of Snoozebox Limited, by purchasing it from the Administrator and selling it onward to a new owner which is part of a well-capitalised group experienced in the wider modular accommodation and in the oil and gas […]
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24 Jan 2018 2 min read
SQN Asset Finance Income’s Suniva to benefit from tariff protection
SQN Asset Finance Income Fund (SQN) has provided an update on Suniva, in which it notes that the White House has now announced protective measures, which it says are aiming to ensure the long-term viability of the US solar cell manufacturing industry. It says that this action is intended to restore a fair and competitive […]
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19 Jan 2018 1 min read
Investment Trust Insider trusts that didn’t escape me last year
Investment Trust Insider – trusts that didn’t escape me last year. As 2018 gets underway, I thought that it might be worth revisiting some of the funds that I wrote about in 2017. At the start of the year I hailed the changes that Standard Life Private Equity (SLPE) was implementing to broaden its investment proposition and noted the increasing […]
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09 Nov 2017 2 min read
Fresh problems for SQN as Snoozebox appoints administrators
Fresh problems for SQN as Snoozebox appoints administrators – SQN Asset Finance Income has made the following announcement: “SQN Asset Finance Income Fund Limited (the “Company” or “SQN”), the leading diversified equipment leasing fund listed in the UK, notes the announcement (RNS Number: 9145V) by Snoozebox Holdings plc (“Snoozebox”) regarding discussions concerning its debt repayment […]
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05 Oct 2017 5 min read
SQN Asset Finance reveals more problems in its portfolio
SQN Asset Finance reveals more problems in its portfolio – SQN Asset Finance Income Fund has published accounts for the year ended 30 June 2017. The chairman points out that the fund is now three years old and has ben paying dividends consistently on a monthly basis (these totalled 7.25p for the year under review, up […]
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22 Sep 2017 2 min read
Good news for SQN as Suniva wins trade case
Good news for SQN as Suniva wins trade case – SQN Asset Finance Income Fund Limited has published an update on its announcement on 19 April 2017 with regard to SQN’s holding in Suniva Inc., the U.S. based solar cell and module manufacturer. In August 2015, SQN entered into a 5-year financing arrangement with Suniva that was […]
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03 Aug 2017 2 min read
SQN Secured Income fully committed
SQN Secured Income fully committed – Following its appointment in April 2017, SQN has completed a thorough strategic review of the Company’s platform investments. At the time of SQN’s appointment, approximately 31% of the fund’s assets were in cash with the remainder already invested via platforms and through working capital loans to platforms. Following the […]
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30 May 2017 2 min read
SQN Secured Income appoints managing director
SQN Secured Income appoints managing director – Dawn Kendall has been appointed as managing director of SQN Asset Management Ltd, the UK Manager of the SQN Secured Income Fund PLC. Dawn joins SQN from TwentyFour Asset Management where she was a partner, portfolio manager and a member of the executive committee. She started her career […]
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09 May 2017 1 min read
Investment Trust Insider on SQN Asset Finance Income
SQN Asset Finance Income (SQN) has released an announcement that says one of its borrowers failed to make an interest payment scheduled for 31 March. Although SQN didn’t name the borrower, it is obvious from the context and information published elsewhere that it is Suniva, a Georgia and Michigan-based manufacturer of photovoltaic solar cells and […]
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20 Apr 2017 2 min read
SQN warns on solar loan
In August 2015, SQN agreed a 5 year financing arrangement with a US solar cell manufacturing company (not named by SQN but almost certainly Suniva) that was secured against its manufacturing and production equipment and supported by a parental guarantee from a public company. In the NAV as at 28 February 2017, being the last published […]
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21 Feb 2017 3 min read
SQN mooted as manager of revamped SME Loan Fund
The SME Loan Fund is in discussions regarding proposals which it thinks, if implemented, should: address investors’ concerns regarding conflicts of interest between the Company, its current investment manager and its largest shareholder; provide the Company with access to a broader range of investment management skills through the appointment of SQN Capital Management, LLC (“SQN”) […]
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20 Feb 2017 2 min read
SQN’s premium expands although a number of accounts have required attention
SQN Asset Finance Income Fund (SQN) has announced its interim results for the year ended 31 December 2016. During the period, the company’s ordinary share NAV decreased by 0.01% but the ordinary shares are paying a monthly dividend equivalent to 7.25% of NAV annually and, in October 2016, the c-shares achieved a level of income […]
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22 Feb 2016 1 min read
SQN on target as it prepares to deploy C share cash
SQN Asset Finance Income paid dividends totalling 6.26p during the second half of 2015 while its NAV edged off a little, falling from 99.93p to 99.84p. The share price rose by a quarter of a penny to 108p. the weighted average yield of the portfolio remains above 9.5% and the average term of their leases […]
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04 Nov 2015 1 min read
SQN Asset Finance Income Fund C-share raises £180m
SQN Asset Finance Income Fund has announced that its C-share offer has completed raising £180m for the company. The issue was oversubscribed and so the company has scaled back applications in accordance with the terms set out in the Prospectus. The company says that the proceeds will be used to invest in a pipeline of […]
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17 Sep 2015 2 min read
SQN launches £180m fund raise on back of annual results
SQN Asset Finance has published its first annual report covering the period from launch in July 2014 to the end of June 2015. At the end of June SQN had a market cap of £193.3m, assets of £178.9m, an NAV per share of 99.93p and had paid dividends totalling 4.28p. The share price at the […]
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07 Jul 2015 1 min read
Better tomatoes thanks to SQN
SQN Asset Finance is providing £16m of funding for two Combined Heat and Power Plants that will be used to provide heat, carbon dioxide and electricity to the largest glasshouse tomato growing facility in the UK (located on the Isle of Wight). The project is being managed by Triple Point. The CHP plants will be gas […]
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21 May 2015 1 min read
SQN Asset Finance to raise £30m of Equity
SQN Asset Finance Income Fund has announced that it is looking to raise £30m through a placing of new ordinary shares. The company had its IPO in July 2014 raising £150m and since this time has funded £122m of investments. However, the company says it now has funded, approved and committed investments of £173m as well […]
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26 Feb 2015 2 min read
SQN passes half way mark on investing IPO proceeds
SQN Asset Finance Income has published its first set of figures since listing in the middle of last year. by the end of December 2014 the fund had invested about half the £150m it raised in July 2014 in 22 investments. The net asset value at the end of the year was 98.92p and the […]
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22 Jan 2015 1 min read
SQN Asset Finance on track to full investment
SQN Asset Finance Income has updated the market now that it is just over six months old. It announced that its NAV at the end of December was estimated to be 98.92p. The Board is declaring a dividend of 0.92p for the final quarter of 2014. 93.7% of the capital raised at IPO has been committed […]
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30 Sep 2014 1 min read
SQN Asset Finance lends against Snoozebox
SQN : SQN Asset Finance lends against Snoozebox SQN Asset Finance announced in the middle of the month that its Board had approved £95m of investments and funded £15.9m of this. The Board said this was in-line with the progress they’d anticipated when the fund listed in July 2014. Today they have announced that they have […]
In The Press
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28 Feb 2022 1 min read
Trust Watch: War in Ukraine widens closed-end discounts
Gavin Lumsden, Citywire Investment Trust Insider, 25 Feb, 2022: Discounts widen: Russia’s shocking invasion of Ukraine has caused extreme volatility in stock markets, with the FTSE 100 today recovering 3.7% after plunging a similar amount yesterday. Investment trust share prices fell and leapt in almost equal measure, although the deep uncertainty saw their average share […]
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16 Nov 2020 1 min read
Engines of growth: on a bargain hunt
Engines of growth: on a bargain hunt By Leonora Walters, Investors Chronicle, 12th October 2020 A key driver of the price of any listed security is sentiment so, not surprisingly, some of the investment trust sectors which have experienced the most extreme discount and premium movements this year are those about which there has been particular […]
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25 Mar 2020 1 min read
Opportunities in the high-yielding leasing sector
Should income-seekers take a look at opportunities in the high-yielding leasing sector? Investment Week, David Brenchley, 2 March 2020 Recent precipitous share price falls in the Association of Investment Companies’ (AIC) leasing sector may have presented an investment opportunity for income-seekers, but caution remains warranted, according to experts. ..Charlotte Cuthbertson, co-manager of the Miton Global […]
