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Guggenheim Credit Income Fund 2019 (1618696) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Guggenheim Credit Income Fund 2019

CIK: 1618696
 
 
Exhibit 99.1

GUGGENHEIM CREDIT INCOME FUND
SECOND QUARTER 2019 OVERVIEW
This overview contains details about the portfolio and operating results for the six months ended June 30, 2019 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 Quarterly Reports on Form 10-Q, which each incorporates the GCIF Quarterly Report on Form 10-Q, as filed with the U.S. Securities and Exchange Commission (the "SEC") on August 9, 2019.
Six Months Ended June 30, 2019 Highlights
Total returns for the six months ended of 2019 for GCIF 2019 and GCIF 2016 T were 2.85% and 3.19%, respectively.
GCIF 2019 declared distributions of $0.89 per share and GCIF 2016 T declared distributions of $0.31 per share, all of which were covered by estimated taxable income and gains.
GCIF's yield on total debt investments was 9.3%, compared to 9.4% as of December 31, 2018 (1).
GCIF's yield on total investments was 9.3%, compared to 9.4% as of December 31, 2018 (2).
GCIF's total investments at fair value totaled $376 million, of which 96% was in senior debt investments. The portfolio consisted of 131 investments across 81 portfolio companies.
GCIF invested $39 million, 94% of which was in senior debt, with sales and paydowns totaling $37 million.
GCIF had zero debt investments on non-accrual status as of June 30, 2019.
GCIF 2019’s net asset value per share as of June 30, 2019 was $24.37, compared to $24.56 as of December 31, 2018.
GCIF 2016 T’s net asset value per share as of June 30, 2019 was $8.61, compared to $8.65 as of December 31, 2018.
Please see below for feeder fund-specific highlights:
 
 
Six Months Ended June 30, 2019
 
 
GCIF 2019
 
GCIF 2016 T
Distributions declared per share
 
$0.89
 
$0.31
Total investment return(3)
 
2.85
%
 
3.19
%
Total assets ($ in thousands)
 
$38,427
 
$152,009
Net asset value per share
 
$24.37
 
$8.61
________________________
(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, August 9, 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: 0001618696-19-000053
Submitted to the SEC: Fri Nov 08 2019 11:38:54 AM EST
Accepted by the SEC: Fri Nov 08 2019
Period: Monday, September 30, 2019
Industry: 1618696

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