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To provide investors with regular, sustained, long-term distributions and capital appreciation from a diversified portfolio of senior and subordinated economic infrastructure debt investments.
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There are partial answers to my own Q - see the April/2022 Fact Sheet - Bulb is 1 of 3 re-structures - too much to repeat here. Presumably most of the loss here is already written down into the NAV 98.75 number, but they do anticipate furthers. I guess the larger issue is that since interest rates have stepped bigger and faster than the market had foreseen in Jan/2022, there is a reduction in asset values no matter what defaults.
The way things look right now - especially on growth stocks - it's more appropriate to avoid getting your own lights shot out before you think about shooting out any other lights. A 6+% divvy is fine if the SP doesn't go south.
Can you say more about Bulb and possible defaults svp? Obviously I'll scour the ER too.
Decent dividend but no chance of NAV and hence share price growth. Its peak prior to the crash was 118 on a considerable premium to NAV. These shares came to market at 100p more than 5 years ago and have gone no where. NAV are the money owed nothing more. Furthermore it is looking like they are going to have a couple of defaults. Bulb is dead buried
Bought a few of these for my ISA at £1.02.2. Not going to shoot the lights out, but decent yield and prospects of capital growth
teamwork86
I think NAV are determined by a external valuer who determined the risk of each loan. I assumed every 6 months. So there maybe reduction soon...or not.
Does anyone else have any knowledge on how the NAV is determined and how often?
I to am struggling to see any good reason for the share price fall.
You would think this would be a flight to safely first call in the present market.
Never mind still getting my beer money!
Can't help with that one @teamwork86. Maybe SEQI has more exposure to transport assets in it's portfolio ? Agree it is worrying about GCP but personally I just keep a steady investment in these type of companies and collect the dividends. I hope that one day those who demand green power actually put some money into.
Have SEQI mentioned in any of their news releases about how the increased Corporation Tax and falling renewable power prices will affect their NAV?
Today, GCP Infrastructure (who seem to me to be very similar in business type and assets) announced a 9% decrease in NAV over the year and the stock is trading on a discount of -1%. The decrease was attributed to those 2 factors mentioned above. So how come SEQI have not addressed this issue and are trading on a 6% premium?
I'm still puzzled as to why a debt-company is exposed to declining power prices -don't the operators of renewable infrastructure have to repay their debts regardless of the price at which they sell their power?
Well it could be that they don't care about retail investors, I'd like to avoid dilution by taking part in the placing but cannot. Here's what HL have to say:
"Thank you for your interest in the proposed Placing to raise £173m in Sequoia Economic Infrastructure Income Fund PLC.
As the company have decided to raise funds via a Placing, we are unable to participate in a retail capacity. However, if you believe you are a Qualifying Professional Investor, we may still be able to submit an order on your behalf.
If you believe you are a Qualifying Professional Investor, please contact our Stockbrokers on 0117 980 9800 and I will arrange to send you a Qualifying Investor Questionnaire which will need to be completed and returned before we can accept an instruction from yourself.
Please note that a £100 placing commission will apply to the transaction and that books are likely to close soon."
Even if they went through primary bid it wouldn't help as my holding is in a SIPP!
is out of favour, Decent yield and is in a sweet spot. The placing is at a small discount so the SP has softened a little. I think it will soon recover.
What a...
Thanks.
It trades at a premium to NAV (c6%). Ecofin was trading at a big discount, though now is trading around NAV.
Why is this fund underperforming Ecofin all the time?
Hello all.
I bought my first tranche of these last week. Nice dividend on offer so a nice addition to my income portfolio.
Hairykebab....there should be an excess facility. So you should be able to add an extra cash amount to that massive share entitlement. Any extra may be scaled back though.
Good luck.
Yes , I received notification yesterday that with my vast holding I am entitled to purchase 1 share !!
Yep, well worth it still....even at 1.12p.
yes I am taking a few extra. We may well see 112p by the end of the week, but at least no dealing charge involved.
...but anyone else taking up their rights at 112p? I am, plus looking to add more as well.
Watch this fly today
This is a quiet place! Any thoughts on the Open Offer? Looks like a reasonable deal to me...
i'll second it.