SQN Asset Finance Income Fund Ltd (lon:sqn)
SQN – Asset Finance

SQN Asset Finance Income Fund Ltd Financials

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SQN Asset Finance Income Fund Ltd Share Price
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Title: SQN – Asset Finance
Company: SQN - SQN Asset Finance Income Fund Ltd
Share Price Then: 25p
Author: Ian Smith
Date: Wed 08 Jul 2020
Comments: KKV Investment Management took over the management of this fund in June 2020, this is a closed asset finance fund.

KKV have decided to look at the effects of COVID 19 and may be revaluing assets as a result of requests from borrowers and indicated that this means that dividends are unlikely.

AD (Anaerobic Digestion) 28%
Diversified Portfolios 13%
Transportation 7%
Glass 9%
Solar 10%
Wholesale Portfolios 6%
CHP (Heat & Power) 6%
Hospitality 7%
In total there is £74m worth of loans , from Helicopters, to Hospitals via retail finance of boilers to solar power.

Possibly surprising is that a hospital is included with a £9m loan it appears that the health care industry is suffering because COVID has concentrated resources in that area at the expense of profitable procedures.

The market cap is £154m but as an investment fund with management fees, the drop along with the uncertainty mean that for me there is too little upside especially as there are many shares showing signs of recovery.
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