Private Credit Portfolio Analysis | Guggenheim Credit Income Fund 2019 Reports FY 2024 Results
- Editor
- Mar 28
- 2 min read
Whats New:
Guggenheim Credit Income Fund 2019 reported its FY 2024 financial results, showing a significant decline in net assets and investment value. The fund's total net assets decreased to $1.85 million as of December 31, 2024, down from $6.10 million at the end of 2023. The net asset value per share also dropped to $1.07, compared to $3.51 at the end of the previous year.
Portfolio Dynamics:
Total assets decreased to $1.91 million as of December 31, 2024, compared to $6.18 million at the end of 2023.
Investments at fair value declined to $1.49 million, down from $5.48 million at the end of 2023.
Cash and cash equivalents reduced to $423,432 from $706,284 at the end of 2023.
Investment Activity:
The fund received $2.98 million in proceeds from liquidation distribution during 2024, compared to $6.55 million in 2023.
Net loss on investments increased to $1.01 million in 2024 from $53,899 in 2023.
Net cash provided by operating activities decreased to $2.69 million in 2024 from $6.57 million in 2023.
Capital Structure:
Total liabilities decreased to $58,126 as of December 31, 2024, from $86,106 at the end of 2023.
Additional paid-in capital reduced to $6.98 million from $10.09 million at the end of 2023.
The fund maintained 1,736,284 shares outstanding throughout 2024.
Performance Profile:
Net asset value per share decreased to $1.07 as of December 31, 2024, compared to $3.51 at the end of 2023.
The fund reported a net loss of $1.28 million for 2024, compared to a net income of $29,768 in 2023.
Accumulated other comprehensive loss increased to $5.13 million from $4.00 million at the end of 2023.
Risk & Quality:
Accounts payable and other accrued liabilities decreased to $19,951 from $24,361 at the end of 2023.
Accrued professional fees reduced to $38,175 from $50,287 at the end of 2023.
The fund eliminated its accounts payable to related parties, which stood at $11,458 at the end of 2023.
The Wrap:
Guggenheim Credit Income Fund 2019 experienced a significant decline in its financial position during FY 2024. The fund's net assets, investments at fair value, and net asset value per share all decreased substantially. While the fund continued to receive proceeds from liquidation distributions, it also reported increased losses on investments. The overall reduction in assets and increased comprehensive losses suggest challenging market conditions or portfolio performance issues for the fund in 2024.
Comments