Sequoia Economic Infrastructure Income discount narrows as chair departs

Robert Jennings exits

The £1.5bn Sequoia Economic Infrastructure Income trust (SEQI) has seen its discount continue to narrow in the last six months, while its current chair steps down.

The trust's discount narrowed from 13.8% to 10.4% in the six months to 30 September, as it repurchased £53.6m in shares, one of the largest in the listed alternative assets space. It is now sitting at a 9.8% discount, according to data from the Association of Investment Companies. Hipgnosis Music Limited takes SONG and Mercuriadis to High Court The trust's interim results, released today (24 November), revealed that net asset value had grown by 3.3%, while its share price rose 7.9%. The gains to NAV came entirely from interest income, with a gain of 5.17p in NAV per share, while...