Sequoia Economic Infrastructure Income Fund Limited (SEQI)

Sector:

Investment Firms

Index:

FTSE 250

 78.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 85.50
  • 52 Week Low: 75.50
  • Currency: UK Pounds
  • Shares Issued: 1,575.72m
  • Volume: 0
  • Market Cap: £1,236.94m
  • RiskGrade: 63

Sequoia NAV improves through July

By Josh White

Date: Friday 12 Aug 2022

LONDON (ShareCast) - (Sharecast News) - Specialist infrastructure debt investor Sequoia said in an update on Friday that its net asset value increased to 97.21p per share at the end of July, from 96.52p on 30 June.
The FTSE 250 company performed a share buyback programme in July, purchasing 6,920,616 shares at an average price of 87p each.

It also invested in a HoldCo loan for CHF 45m to finance the acquisition of a "leading data centre platform" in Switzerland, with further loans totalling £4.1m also made to three companies.

As at 29 July, Sequoia had cash of £168.6m, and had drawn £124.7m on its £325m revolving credit facility.

The company said it also had undrawn commitments on existing investments collectively valued at £190.1m.

Its invested portfolio consisted of 63 private debt investments and eight infrastructure bonds, across eight sectors and 26 sub-sectors.

The firm said it had an annualised yield-to-maturity of 9.8%, and a cash yield of 7.4%, while its weighted average portfolio life was 3.9 years.

Private debt investments represented 95% of the total portfolio, and 51% of the portfolio comprised floating rate assets.

"We expect the floating rate percentage to increase in the near future, driven by our current pipeline," the board said in its statement.

"The company's invested portfolio remains geographically diverse with 53% located across the US, 20% in the UK, 26% in Europe, and 1% in Australia and New Zealand.

"Currently the company is not investing in Portugal or Italy but has selectively invested in opportunities in Spain."

Sequoia said its pipeline of economic infrastructure debt investments remained "strong", adding that it was diversified by sector, sub-sector, and jurisdiction.

At the end of July, about 100% of its net asset value consisted of either sterling assets, or was hedged into sterling.

"The company has adequate resources to cover margin calls on its hedging book."

At 1514 BST, shares in Sequoia Economic Infrastructure Income Fund were up 1.02% at 89.5p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SEQI Market Data

Currency UK Pounds
Share Price 78.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 85.50
52 Week Low 75.50
Volume 0
Shares Issued 1,575.72m
Market Cap £1,236.94m
RiskGrade 63

SEQI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
59.13% above the market average59.13% above the market average59.13% above the market average59.13% above the market average59.13% above the market average
85.52% above the sector average85.52% above the sector average85.52% above the sector average85.52% above the sector average85.52% above the sector average
Price Trend
22.75% below the market average22.75% below the market average22.75% below the market average22.75% below the market average22.75% below the market average
59.5% below the sector average59.5% below the sector average59.5% below the sector average59.5% below the sector average59.5% below the sector average
Income
32.72% above the market average32.72% above the market average32.72% above the market average32.72% above the market average32.72% above the market average
69.95% above the sector average69.95% above the sector average69.95% above the sector average69.95% above the sector average69.95% above the sector average
Growth
88.36% below the market average88.36% below the market average88.36% below the market average88.36% below the market average88.36% below the market average
82.27% below the sector average82.27% below the sector average82.27% below the sector average82.27% below the sector average82.27% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SEQI Dividends

  Latest Previous
  1st Interim 4th Interim
Ex-Div 25-Jul-24 25-Apr-24
Paid 23-Aug-24 23-May-24
Amount 1.72p 1.72p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

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