Carlyle Credit Income Fund (CCIF) Stock

Carlyle Credit Income Fund (NYSE:CCIF ) Q4 2024 Earnings Conference Call November 21, 2024 10:00 AM ET Company Participants Jane Cai - Investor Relations Lauren Basmadjian - Chief Executive Officer Nishil Mehta - Portfolio Manager Nelson Joseph - Chief Financial Officer Conference Call Participants Mickey Schleien - Ladenburg Matthew Howlett - B. Riley Operator Good day, and thank you for standing by.

Collateralized loan obligation closed-end fund preferreds and baby bonds can offer relatively secure sources of income generation for investors. These offerings are subject to stricter regulations under the 1940 Act, limiting leverage and that can provide more security to these instruments. New offerings since our last update include EICC and CCIA, which naturally came with higher issued yields thanks to the higher rate environment.

We analyze the market valuation and performance of CEFs up to the second week of April and discuss recent market activity. CEFs experienced another decline in the past week due to concerns about inflation exceeding expectations. Several Voya funds have transitioned to a monthly distribution, a common trend among CEFs.

We analyze the market valuation and performance of CEFs in early April and discuss recent market trends. CEFs experienced a decline in the past week due to decreases in stocks and Treasuries, but March showed the strongest performance of the year. CLO CEFs are securing high leverage costs, which will likely decrease their net income in the coming years as interest rates are reduced by the Fed.

NEW YORK , Jan. 30, 2024 /PRNewswire/ -- Carlyle Credit Income Fund ("we," "us," "our," "CCIF" or the "Fund") (NYSE: CCIF) announced today that it will release financial results after market close on Thursday February 29, 2024 for its first quarter of 2024. CCIF will host a conference call at 10:00 a.m.

We review CEF market valuation and performance through the third week of January and highlight recent market action. Most CEF sectors were down for the week, except for covered calls and loans, which saw small gains. CEF activists like Saba, Karpus, and Bulldog hold sizable CEF positions to push for shareholder-friendly actions and tighter discounts. We track their holdings.

Carlyle Credit Income Fund has made progress in its transition to a CLO CEF, including issuing preferred and exiting legacy real estate positions. The fund has topped up its CLO Equity holdings and will likely use its preferreds proceeds to add more CLO Equity positions. Net income numbers the fund has published do not currently reflect its actual earning capacity.

Carlyle Credit Income Fund is a new closed-end fund that offers high-yield income from collateralized loan obligations. CCIF was created by Carlyle Group by acquiring an existing CEF managed by a small fund manager. The fund holds mostly CLO equity and offers a consistent 15% distribution to shareholders, with the potential for continued high-yield returns.

We take a look at the action in preferreds and baby bonds through the fourth week of November and highlight some of the key themes we are watching. Preferred stocks have given back some of their month-to-date returns, but all sectors remained in the green in November. Term preferreds, with lower duration and attractive yields, have delivered positive returns since the rise in interest rates in 2022.