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Guggenheim Credit Income Fund 2019 (1618696) SEC Filing 10-Q Quarterly report for the period ending Friday, May 10, 2019

Guggenheim Credit Income Fund 2019

CIK: 1618696
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Exhibit 99.1

GUGGENHEIM CREDIT INCOME FUND
FOURTH QUARTER AND YEAR END 2018 OVERVIEW
This overview contains details about the portfolio and operating results for the quarter and year ended December 31, 2018 of Guggenheim Credit Income Fund ("GCIF" or the "Master Fund") and its feeder funds, Guggenheim Credit Income Fund 2019 ("GCIF 2019") and Guggenheim Credit Income Fund 2016 T ("GCIF 2016 T") (together, the "Feeder Funds"). This overview should be read in conjunction with the GCIF 2019 and GCIF 2016 T Annual Reports on Form 10-K, which each incorporates the GCIF Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission (the "SEC") on March 14, 2019
.
Year Ended December 31, 2018 Highlights
Total returns for the full year 2018 for GCIF 2016T and GCIF 2019 were 3.78% and 3.21%, respectively. This is compared to a 1.14% return for the Credit Suisse Leveraged Loan Index, a -2.25% for the ICE Bank of America Merrill Lynch High Yield Index, and a -6.24% for the S&P 500 Index.
GCIF 2019 declared distributions of $1.95 per share, of which $1.87 per share was from regular distributions and $0.78 per share was from a special distribution, all of which were covered by estimated taxable income and gains.
GCIF 2016 T declared distributions of $0.74 per share, of which $0.66 per share was from regular distributions and $0.07 per share was from a special distribution, all of which were covered by estimated taxable income and gains.
GCIF's yield on total debt investments was 9.4%, compared to 8.9% as of December 31, 2017 (1).
GCIF's yield on total investments was 9.4%, compared to 8.8% as of December 31, 2017 (2).
GCIF's total investments at fair value totaled $374 million, of which 97.2% was in senior debt investments. The portfolio consisted of 129 investments across 79 portfolio companies.
GCIF invested $193 million, 97% of which was in senior debt, with sales and paydowns totaling $185 million.
GCIF had 1 debt investment on non-accrual status as of December 31, 2018.
GCIF 2019’s net asset value per share as of December 31, 2018 was $24.56, compared to $25.68 as of December 31, 2017.
GCIF 2016 T’s net asset value per share as of December 31, 2018 was $8.65, compared to $9.05 as of December 31, 2017.
GCIF 2019 formally launched a follow-on offering in November and is currently accepting new capital.
Please see below for feeder fund specific highlights:
 
 
Year Ended December 31, 2018
 
 
GCIF 2019
 
GCIF 2016 T
Distributions paid per share
 
$1.95
 
$0.74
Total investment return(3)
 
3.21
%
 
3.78
%
Total assets ($ in thousands)
 
$39,922
 
$156,327
Net asset value per share
 
$24.56
 
$8.65
________________________
(1)    Weighted average effective yield of the total debt investments is calculated as the effective yield of each investment and weighted by its amortized cost as compared to the aggregate amortized cost of all debt investments. Effective yield is the return earned on an investment net of any discount, premium, or issuance costs. Effective yield on total debt investments is calculated before considering the impact of leverage or any operating expenses.
(2) The total investment portfolio yield is calculated before considering the impact of leverage or any operating expenses, and includes all income generating investments, non-income generating investments and investments on non-accrual status.
(3)    Total investment return is a measure of the change in total value for shareholders who held the Feeder Funds' common shares at the beginning and end of the period, including distributions declared during the period. Total investment return is based on (i) net asset value per share on the first day of the period, (ii) the net asset value per share on the last day of the period, plus any shares issued in connection with the reinvestment of monthly distributions, and (iii) distributions payable relating to the ownership of shares, if any, on the last day of the period. The total investment return calculation assumes that distributions are reinvested in accordance with the Feeder Funds' distribution reinvestment plan. Since there is no public market for the Feeder Funds' shares, terminal market value per share is assumed to be equal to net asset value per share on the last day of the period presented. Investment performance is presented without regard to sales load that may be incurred by shareholders in the purchase of the Feeder Funds' common shares. Total investment return is not annualized. The Feeder Funds' performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results.

1

The following information was filed by Guggenheim Credit Income Fund 2019 on Friday, March 15, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Guggenheim Credit Income Fund 2019 provided additional information to their SEC Filing as exhibits

CIK: 1618696
Form Type: 10-Q Quarterly Report
Accession Number: 0001618696-19-000030
Submitted to the SEC: Fri May 10 2019 4:39:37 PM EST
Accepted by the SEC: Fri May 10 2019
Period: Friday, May 10, 2019
Industry: 1618696

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