Carlyle Credit Income Fund's Q4 Net Investment Loss Was $0.14 Per Common Share; NAV Per Share Increased 1.8% YoY To $8.42
Portfolio Pulse from Benzinga Newsdesk
Carlyle Credit Income Fund (CCIF) reported a net investment loss of $0.14 per common share for Q4 2023, attributed to non-recurring expenses from a previous advisor. Despite this, the fund's NAV per share increased by 1.8% year-over-year to $8.42. From July 14 to September 30, 2023, after CGCIM became the investment advisor, net investment income was $0.13 per share. The fund remained unlevered through Q4, with total investments valued at $93.9 million as of September 30, 2023.
November 30, 2023 | 6:26 am
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NEUTRAL IMPACT
CCIF experienced a net investment loss in Q4 2023 but showed an increase in NAV per share, indicating a mixed financial performance.
The net investment loss may concern investors, but the increase in NAV per share suggests underlying asset growth, which could balance out the negative impact on the stock price in the short term. The fact that the fund remained unlevered might be seen as a conservative strategy, potentially appealing to risk-averse investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80