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Oxford Park Income Fund Monthly NAV Fluctuates in Early 2024

Oxford Park Income Fund Monthly NAV Fluctuates in Early 2024. Alternative investments, Oxford Park Income Fund, NAV, collateralized loan obligation, CLO

Oxford Park LLC, the parent company of Oxford Park Income Fund Inc. – a non-diversified, registered closed-end management investment company – announced the fund common stock’s per share net asset value – $28.03 as of Feb. 29, 2024. This is a 0.36% decrease from its Jan. 31 $28.13 NAV, but a 1.71% increase from its 2023 close-of-year NAV.

As of Dec. 31, 2023, the fund’s declared distribution rate was about 13.1%. Oxford Park had $2.1 billion assets under management firm wide.

In previous reporting, Oxford Park said the fund, launched in April 2023, primarily invests in structured finance investments, specifically the equity and junior debt tranches of collateralized loan obligation vehicles. The collateral supporting these CLO vehicles consists of a diverse portfolio of senior secured loans made to companies whose debt is unrated or is rated below investment grade.

“We continue to believe that the CLO market provides the possibility for compelling risk adjusted returns,” said Jonathan Cohen, chief executive officer. “Our focus remains on CLO equity tranche investing which we believe continues to present us with interesting and differentiated opportunities.”

Oxford Park Income Fund’s portfolio composition included the following collateralized loan obligation types as of Dec. 31:

  • U.S. CLO equity tranches: 22
  • U.S. CLO debt tranches: 1
  • Unique CLO managers: 14

In company news, Nick Worontzoff joined Oxford Park in January 2024, serving as the managing director for marketing and leading capital development efforts with wealth managers. He has over three decades of financial service experience and was previously senior vice president for Concept Capital Markets, an alternative-focused comprehensive advisory services firm.

Worontzoff has a bachelor’s degree in business with a finance concentration from the University of Buffalo. He holds his series 7, 66, and Securities Industry Essentials licenses.

Oxford Park Income Fund Inc. primarily invests in debt and equity tranches of CLO vehicles. Its investment strategy also includes warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.

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