Home News Prospect Flexible Income Fund Reports NAV Per Share

Prospect Flexible Income Fund Reports NAV Per Share

Prospect Flexible Income Fund Inc., a non-traded business development company formerly known as TP Flexible Income Fund Inc., reported a net asset value per share of $8.54 as of March 31, 2021.

Prospect Flexible Income Fund Inc., a non-traded business development company formerly known as TP Flexible Income Fund Inc., reported a net asset value per share of $8.54 as of March 31, 2021, representing approximately a 6.1 percent increase compared to the same period in 2020.

The fund also declared cash distributions to stockholders for June 2021, July 2021, and August 2021 at an annualized distribution rate of 7.94 percent based on the March 31, 2021 NAV per share.

In other recent news, in April 2021, shareholders approved a new investment advisory agreement between the fund and Prospect Capital Management L.P., replacing the previous agreement with Prospect Flexible Income Management LLC, an affiliate of Triton Pacific.

Prospect Flexible Income Fund invests primarily in senior and secured credit of privately owned U.S. middle market companies. For the trailing 12 months ended March 31, 2021, distributions were composed of approximately 14 percent from cash flows from its investments and operations, 86 percent was a return of capital, and 0 percent from borrowings.

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