StockMarketWire.com - SQN Secured Income Fund said it planned to raise between £50m and £100m from a share issue in the first quarter of 2019 to target potential investment opportunities.
The size of the raising would be determined by he number of opportunities at hand that could be closed within a short window.
'Anticipating a period of political and market instability, SQN Asset Management sees this as an opportune time to capitalise on an expanding opportunity set as cracks start to develop in the portfolios of non-traditional underwriters and volume driven platforms,' the company said.
'This is expected to lead to either the sale of quality segments of seasoned portfolios or a reduction in competition around attractive risk adjusted high-yield transactions as other non-traditional investors shift their focus to portfolio maintenance.'
SQN Secured Income Fund said it would seek to maintain its current dividend level of 7p per share per annum, with the aim of moving towards delivering its target total return of 8% per annum over the medium term.
At 8:37am: [LON:SSIF] Sqn Secured Income Fund Plc share price was +0.25p at 92.25p
Story provided by StockMarketWire.com
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