Private Credit Portfolio Analysis | Guggenheim Credit Income Fund 2016 T Reports FY 2024 Results
- Editor
- Mar 28
- 2 min read
Whats New:
Guggenheim Credit Income Fund 2016 T reported its FY 2024 financial results, showing a significant decrease in total assets and net asset value per share compared to the previous year. The fund's total assets decreased to $5.26 million as of December 31, 2024, down from $18.52 million at the end of 2023. The net asset value per share dropped to $0.32, compared to $1.13 at the end of the previous year.
Portfolio Dynamics:
Total assets decreased to $5.26 million as of December 31, 2024, compared to $18.52 million at the end of 2023.
Investments at fair value declined to $5.02 million, down from $18.52 million at the end of 2023.
Cash and cash equivalents increased to $236,000 from $1,000 at the end of 2023.
Investment Activity:
The fund received $10.06 million in proceeds from liquidation distribution in 2024, compared to $22.15 million in 2023.
Net loss on investments was $3.43 million in 2024, compared to a loss of $180,000 in 2023.
Net cash provided by operating activities was $9.52 million in 2024, down from $22.72 million in 2023.
Capital Structure:
Total liabilities decreased to $69,000 from $121,000 at the end of 2023.
Net assets decreased to $5.19 million from $18.40 million at the end of 2023.
The fund made capital distributions of $9.29 million in 2024, compared to $23.14 million in 2023.
Performance Profile:
Net asset value per share decreased to $0.32 as of December 31, 2024, compared to $1.13 at the end of 2023.
Net investment loss was $3.92 million in 2024, compared to net investment income of $426,000 in 2023.
Total return based on net asset value was -71.68% for 2024, compared to -55.16% for 2023.
Risk & Quality:
Accounts payable and other accrued liabilities decreased to $31,000 from $58,000 at the end of 2023.
Accrued professional fees decreased to $38,000 from $51,000 at the end of 2023.
The fund had no accounts payable to related parties at the end of 2024, compared to $12,000 at the end of 2023.
The Wrap:
Guggenheim Credit Income Fund 2016 T experienced a significant decline in its financial position during FY 2024. The fund's total assets, investments at fair value, and net asset value per share all decreased substantially compared to the previous year. The fund continued to distribute capital to shareholders while receiving proceeds from liquidation distributions, indicating a potential wind-down of its investment portfolio. The overall performance was negative, with a significant net investment loss and a large decrease in net assets.
Comments