16th Jun 2022 09:26
(Alliance News) - Sequoia Economic Infrastructure Income Fund Ltd on Thursday said net asset value per share fell by 0.36 pence in May from the previous month.
The London-based income fund's NAV stood at 98.39p at May 31, down 0.4% from 98.75p on April 30.
Sequoia said interest income of 1.17p per share and a small gain on currency movement was more than offset by a decrease in asset valuations of 1.54p, resulting in the NAV decline.
At May 31, Sequoia had cash of GBP170.2 million and had drawn GBP123.1 million on its GBP325 million revolving credit facility. The company also had undrawn commitments on its existing investments, which were collectively valued at GBP63 million.
Shares in Sequoia were up 0.5% at 97.45 pence on Thursday in London.
By Heather Rydings; [email protected]
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