Wed, Nov 13, 9:58 PM (65 days ago)
For the quarter ended September 30, 2024, Guggenheim Credit Income Fund 2016 T (GCIF 2016 T) reported a significant decline in net assets, dropping from $18,397,000 at year-end 2023 to $8,139,000. The net asset value per share fell from $1.13 to $0.50. The fund generated $53,000 in investment income, primarily from dividends, contrasting sharply with $172,000 for the same period in 2023. Operating expenses totaled $121,000, leading to a net investment loss of $68,000 for the quarter. Unrealized losses from investments in the Master Fund amounted to $664,000, contributing to a net decrease in assets of $732,000. Cash flow from operating activities was $9,653,000, primarily from liquidation distributions, while financing activities saw cash outflows of $9,289,000 in shareholder distributions. The fund's liquidity remains under scrutiny, given the ongoing liquidation plan, which has significantly impacted net asset value. Future operations may be constrained by market conditions and the Master Fund's performance, while uncertainties remain regarding competitive pressures and regulatory changes.