Private Credit Portfolio Analysis | Guggenheim Credit Income Fund Reports FY 2024 Results
- Editor
- Mar 28
- 2 min read
Whats New:
Guggenheim Credit Income Fund reported its FY 2024 financial results, showing a significant decline in net assets and investment portfolio compared to the previous year. The fund's total net assets decreased to $7.54 million as of December 31, 2024, down from $27.78 million at the end of 2023. The net asset value per share dropped to $0.29, compared to $1.09 at the end of the previous year.
Portfolio Dynamics:
Total assets decreased to $8.08 million as of December 31, 2024, compared to $28.26 million at the end of 2023.
Investments at fair value declined to $5.47 million, down from $23.93 million at the end of 2023.
Cash and cash equivalents decreased to $2.45 million from $3.69 million at the end of 2023.
Investment Activity:
Accrued investment income receivable decreased to $12,000 from $308,000 at the end of 2023.
Receivable with imputed interest face amount increased to $117,000 from $51,000 at the end of 2023.
Prepaid expenses and other assets decreased to $24,000 from $281,000 at the end of 2023.
Capital Structure:
Total liabilities increased to $542,000 from $484,000 at the end of 2023.
Additional paid-in capital decreased to $28.35 million from $44.82 million at the end of 2023.
Accumulated other comprehensive loss increased to $20.84 million from $17.07 million at the end of 2023.
Performance Profile:
Net investment income for 2024 was -$60,000, compared to $1.50 million in 2023.
Net realized loss on investments was $4.51 million in 2024, compared to a loss of $772,000 in 2023.
Net change in unrealized appreciation on investments was -$574,000 in 2024, compared to $589,000 in 2023.
Risk & Quality:
Management fee payable decreased to $31,000 from $83,000 at the end of 2023.
Accrued professional fees increased to $481,000 from $299,000 at the end of 2023.
Due to related parties decreased to $0 from $75,000 at the end of 2023.
The Wrap:
Guggenheim Credit Income Fund experienced a significant decline in its financial position during FY 2024. The fund saw substantial decreases in total assets, investments at fair value, and net asset value per share. The fund's performance was negatively impacted by investment losses and decreased income. While some liabilities increased, the overall capital structure showed a reduction in additional paid-in capital and an increase in accumulated comprehensive loss, reflecting the challenging year for the fund.
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