Share Name Share Symbol Market Type Share ISIN Share Description
Sequoia Economic Infrastructure Income Fund Limited LSE:SEQI London Ordinary Share GG00BV54HY67 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.60 0.58% 104.60 209,113 11:28:27
Bid Price Offer Price High Price Low Price Open Price
104.00 104.60 105.00 104.00 104.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial -65.36 -5.03 1,733
Last Trade Time Trade Type Trade Size Trade Price Currency
11:35:17 O 1,842 104.1515 GBX

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Date Time Title Posts
21/8/202015:53Sequoia Economic Infrastructure Income Fund91

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Sequoia Economic Infrast... Daily Update: Sequoia Economic Infrastructure Income Fund Limited is listed in the General Financial sector of the London Stock Exchange with ticker SEQI. The last closing price for Sequoia Economic Infrast... was 104p.
Sequoia Economic Infrastructure Income Fund Limited has a 4 week average price of 104p and a 12 week average price of 102.40p.
The 1 year high share price is 118.60p while the 1 year low share price is currently 74.60p.
There are currently 1,656,353,931 shares in issue and the average daily traded volume is 1,835,507 shares. The market capitalisation of Sequoia Economic Infrastructure Income Fund Limited is £1,732,546,211.83.
ukneonboy: Although I liked the article recommending SEQI in the Daily Telegraph about a month ago I'm starting to think that SEQI shares are starting to look a bit expensive (over priced) at 109p each. Latest declared Net Asset Value 98p each which implies a 10.7% premium to Net Asset Value. Think I'm going to sell and wait for the SEQI share price to fall back to nearer the N.A.V before re-buying.
robow: here it is from the DT Questor: our ‘lending money to bridges’ fund is doing just what we hoped of it Questor Income Portfolio: the Sequoia Economic Infrastructure Income portfolio doesn’t expect Covid-19 to blow its dividend off course By Richard Evans 10 July 2020 • 6:00am Several of the recent additions to our Income Portfolio have issued updates in recent weeks. All were bought with the intention to make our income more secure. Is our strategy working? We’ll cover some of these updates in the coming weeks and will start with the Sequoia Economic Infrastructure Income fund. This trust, known as Seqi, is unusual in that it makes money from interest on loans advanced to the owners of infrastructure assets such as bridges. As these assets themselves tend to generate stable incomes, the trust’s dividends will, we hope, prove far more reliable than those in other parts of the market, where coronavirus has taken such a toll. The signs are good. In May last year the trust increased its annual dividend target from 6p to 6.25p a share, and in the annual report for the year to March the board said it expected, in the “absence of any significant restricting factors”, to pay that amount “for the foreseeable future”. It said it had carried out a “comprehensive portfolio and balance sheet review” in light of “exceptional market volatility arising from the Covid-19 pandemic and oil price collapse”. Its assessment of cash yields allowed the “reaffirmation of dividend cover and target for the financial year ending March 31 2021”. The actual dividend paid for the past financial year was 6.1875p, which reflects the fact that the target was raised part way through that year. We are, as always, less concerned about the value of a trust’s assets, which can be expected to wax and wane in a way that we hope dividends will not. The portfolio’s net asset value per share fell from 103.41p to 96.69p over the financial year as a result of the downturn in the financial markets generally, including those markets used by the trust’s independent valuation agents as pricing benchmarks for its assets. Once dividends were taken into account, the trust’s total return on the basis of net asset value over the year was minus 0.9pc. Although the trust does not expect the pandemic to affect its ability to pay the dividend, it has modified its investment strategy in response to the crisis. In a move that this column finds reassuring, the board said there had been a “redirection of the investment adviser’s resources from origination to enhanced credit and portfolio monitoring” – in other words, for now it is paying less attention to investing in new loans and more to making sure that its existing ones do not get into trouble. The managers are keeping at least one eye on possible new holdings for the portfolio, however. While the trust said it had imposed restrictions “on certain new investments”, this was done with a view to “preservation of balance sheet capacity to take advantage of difficult market conditions and opportunities to invest in new loans on attractive terms”. It explained that “in the current environment there is the possibility that a number of high-quality economic infrastructure investments will appear on the secondary market at attractive prices”. The secondary market is where lenders that originated loans sell them on to other investors. “As the company slowly ramps up deployment of its cash as the market improves, these opportunities could be a significant source of [outperformance] without sacrificing credit quality,” it added. Even if we assume that the global economy can recover well from the pandemic there is concern that vastly increased government spending across the world will stoke inflation. We can take comfort from the fact that 70pc of Seqi’s portfolio consists of “floating-rate investments”, which means that it will receive higher rates of interest on its loans if interest rates generally rise. Another positive development is that the ongoing charges ratio for the year to March was 0.96pc, compared with 1.02pc the previous year. We see this as reasonable in view of the detailed research needed before money is invested in assets of this type. This trust is doing what we hoped of it and we will hold. Questor says: hold Ticker: SEQI Share price at close: 104p
apollocreed1: I also got 98% - I'm not happy because when there is a significant scale-back, such as only being awarded 50%, the share price on the open market rises by much more as the large institutions buy on the market in order to make their positions meaningful in the context of their portfolios.
pyufak: Ah, so private shareholders won’t be able to get involved with this? Hmm I find that annoying but I guess it’ll all depend on where the share price is set for the institutions.
voci: I have held seqi for over a year. Happy with dividend and a relatively stable share price. "The stability of this fund is unique because they have so many foreign holdings (with a hedge to GBP) that the political risk (especially regarding Jeremy Corbyn in the UK) is far less than other infrastructure funds. They also invest in debt as opposed to directly managing the assets, hence the lower volatility." Good point well made Apollo Will be applying for rights and more.
speedsgh: Latest NAV to 28/2/17 is 102.88p - HTTPS:// 102.88p as at 28/2/17 102.37p as at 31/1/17 102.48p as at 31/12/16 101.36p as at 30/11/16 102.00p as at 31/10/16 101.29p as at 30/9/16 100.44p as at 31/8/16 100.78p as at 29/7/16 101.16p as at 30/6/16 98.07p as at 31/5/16 97.69p as at 29/4/16 98.20p as at 31/3/16 97.04p as at 29/2/16 96.38p as at 29/1/16 96.50p as at 31/12/15 95.61p as at 30/11/15 95.95p as at 30/10/15 96.20p as at 30/9/15
wirralowl: Confirmation of successful c share equity issue - SEQI managed to raise £175m against a targeted £150m, so plenty of demand here...
Sequoia Economic Infrast... share price data is direct from the London Stock Exchange
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