Share Name Share Symbol Market Type Share ISIN Share Description
SQN Asset Finance Income Fund LSE:SQN London Ordinary Share GG00BN56JF17 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.40p -0.41% 96.20p 96.20p 96.60p 96.60p 96.00p 96.60p 735,563 16:35:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 33.3 -0.5 5.9 16.3 343.20

SQN Share Discussion Threads

Showing 151 to 173 of 175 messages
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DateSubjectAuthorDiscuss
12/11/2018
12:41
I see John Barron added to his position
makinbuks
14/9/2018
15:40
@SpectoAcc, I have been doing precisely the same. I have sold one half of what I had a week back. 98.935p seems unnecessarily high - must have been late for the airport.
chucko1
14/9/2018
15:27
Been some decent buys on it, not just John Barron-inspired muppet money (eg 118k shares at 98.93p earlier, tho that does look a bit of a muppet price). Been selling into the strength, still hold about half.
spectoacc
12/9/2018
06:11
I think he p*sses in the wind to some extent, using his two IC profiles to promote his (subscription only) website, where at last glance there were at least 5 IT portfolios running. Lot of holdings in common but still - maybe 20 UK-listed ITs in each. GPM would be a good example - he bought in, I thought "why on earth", then recently he quietly sold out again. Has to be a near constant churn in his portfolios (changes every few weeks, in & out) to keep it "moving". (GPM is far too small - suffers from high relative charges on it's poxy few millions of assets. That was never mentioned by JB. Also no yield. I hold ;) ). Is a fair point about him presumably looking at both SQN and SSIF, but if in say 6 months time he swapped one for the other, it wouldn't surprise me in the least. Fair point re P2P too, I'd have thought eg VPC is pretty similar. One thing JB does have - thanks to his IC publicity, thanks to his subscription website - is a following, which presents some opportunities up & down (hence me being in GPM I guess).
spectoacc
11/9/2018
17:17
I think JB's entry point stated as 93p might prove well timed. Interesting that he would run the rule over SQN and SSIF and reject the apparently superior return on offer from the latter currently. I think that probably reflects his cautious approach and the relative size of the two funds and the number of loans in each. He did an IC podcast recently on alternative strategies and specifically ruled out investing in P2P as it was too early. I appreciate neither SQN or SSIF are P2P but I had thought he would have grouped them in that category (or certainly SSIF particularly from the platform stuff)
makinbuks
07/9/2018
15:15
And that's with a couple of mistakes that they (hopefully) won't make again. Mind you - none of these been tested in a downturn yet. I hold both.
spectoacc
07/9/2018
14:37
@speedsgh, yes - but in the meantime 22p of dividends. So about 19% total return or about 6% per annum.
chucko1
07/9/2018
14:33
Had a quick peek at SQN this pm. Not impressed at erosion of NAV over the past couple of years... NAV 30/9/15 = 100.16p NAV 30/9/16 = 99.57p NAV 30/9/17 = 99.40p NAV 31/7/18 = 97.35p
speedsgh
07/9/2018
14:22
Yes, SQN is much more liquid than SSIF (trades 25x the volume per day on average). No comparison. However, SSIF is at an 8% discount, whereas SQN at 3%. Div yields very similar.
chucko1
07/9/2018
14:09
@speeds - SSIF worth a look in comparison, possibly the better buy right now (but rather illiquid).
spectoacc
07/9/2018
13:21
specto - I don't really have an opinion on JB, although interesting to see how he has constructed growth/income portfolios with risk/exposure spread across various sectors/themes. Merely use his updates as a source for generating ideas for my own research. SQN has been added to the melting pot; will look at it more closely when I can find the time.
speedsgh
07/9/2018
12:35
He could have added buy-back too, which IMO is what boosted the price recently. Not hugely a fan of JB in truth, but do like SQN.
spectoacc
07/9/2018
12:30
from IC John Baron's Investment Trust Portfolio... HTTPS://www.investorschronicle.co.uk/tips-ideas/2018/09/06/the-uk-market-darkest-before-the-dawn/ ...During the second half of August, both portfolios sold European Assets Trust (EAT) while the Income portfolio sold Aberdeen Smaller Companies Income (ASCI). Their replacements were BlackRock Throgmorton Trust (THRG) in the Growth portfolio, and Invesco Perpetual UK Smaller Companies (IPU) and SQN Asset Finance Income Fund (SQN) in the Income portfolio. Prices achieved were £1.21, £2.85, £5.43, £4.94 and £0.93, respectively... ...SQN’s aim is to produce regular dividends and capital growth through investment in business-essential equipment. Its 200 investments yield over 9 per cent and this covers the 7.25p dividend – representing a yield of 7.8 per cent when bought. Recent concerns about some holdings missing repayments are now receding. Speaking with Neil Roberts, the lead manager, SQN’s dividend would continue to have been covered regardless, which highlights a margin of safety. A discount to NAV, respected management and director buying all suggest support...
speedsgh
30/7/2018
14:27
Yes both here and SSIF they announce that they are fully committed but the time it takes for loans to draw down seems interminable. To be fair their approach to the legals is clearly pretty good judging by the way they have been able to recover monies from problem customers so perhaps they should be cut some slack
makinbuks
27/7/2018
14:15
They had a lot of cash which they could also have returned. They didn't and promised they would be fully invested in a couple of months. All along they have lied about about timelines on investment. Larger holders should have pushed them to liquidate C. Liquidity in the shares is dire. They should buying back shares there rather than ords.
horndean eagle
24/7/2018
05:37
@HE - they did return cash on the C's though, and something of a mea culpa. Not sure what that says about the business model in general.
spectoacc
23/7/2018
09:27
That RNS seems generally positive to me - they've FINALLY impaired a little of Suniva, as well as FINALLY explaining how they expect to recover (most) of their money: "The Company has examined the minimum expected recovery under the lease or sale of the Suniva equipment and, considering the potential time required to realise the guarantee, the Company has reflected an impairment of GBP2.4m to the Suniva investment to account for the risk adjusted time value of money on such proportion of the investment should a full recovery not be achieved through a sale or re-lease. "
spectoacc
08/5/2018
13:01
Obviously 200k is a drop in the ocean compared to 357m shares but it shows intent. I must admit I am a puzzled by the recent price movements. Is it drifting lower again due to concerns on Suniva again?
makinbuks
04/5/2018
07:20
200k buyback yesterday.
spectoacc
29/3/2018
16:04
If they are confident in the NAV and discount remains then share buybacks would be sensible use of any surplus cash. If they are too large then they can right size in a NAV accretive manner.
scburbs
29/3/2018
14:23
I agree (& also says something about SSIF's intention to grow in size) but - it also shows they're not chasing the market and that they'd rather give back the money than sit on it.
spectoacc
29/3/2018
13:10
Not being able to complete the c share cash call is not only bad for the manager in terms of fees but raises questions on whether they will be able to churn repayments into new loans at a constant rate and thereby sustain their model.
makinbuks
25/3/2018
01:26
Great update and goes a long way to restoring trust in the management. The premium may have gone forever, but I cannot see sustained downside from here and they might finally do what we all hoped they would do, provide an excellent yield and a safe harbour. I will add this week.
andyj
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