Sequoia Economic maintains payout as assets stay flat in steady half

Wed, 24th Nov 2021 10:24

(Alliance News) - Assets at Sequoia Economic Infrastructure Income Fund Ltd remained unchanged during a steady first half for the London-based group.

The FTSE 250-listed company, which invests in income-generating economic infrastructure debt, had net assets of GBP1.8 billion on September 30, flat from six months before. Net asset value per share dropped marginally to 102.9 pence from 103.2p.

"The past six months has seen global economies easing out of lockdowns alongside the ongoing market uncertainty around rising global inflation and the possibility of rising interest rates," commented Chair Robert Jennings.

"During this time, the company has continued to demonstrate its resilience."

Following the steady first half performance, Sequoia declared an interim dividend of 3.125p unchanged from a year before.

Sequoia shares were trading 0.4% lower in London on Wednesday at 106.97 pence each.

At the end of the first half, Sequoia's portfolio included 74 investments made across 8 sectors. Investments cover the transport, energy, telecommunications and health care industries. The annualised portfolio yield-to-maturity was 8.6%

By Will Paige; willpaige@alliancenews.com

Sequoia Economic Infrastructure Fund