BDCs Filing season is in full swing. This report will utilize Advantage Data’s BDC workstation to analyze Q2 2019 filing data. As of Friday, August 9th, 2019 Aggregate Fair Value reported by BDCs that have filed in Q2 2019 is at 68 Billion USD (Fair Value) which is approximately 65% of aggregate AUM of all BDCs.
Topics: Analytics, BDC, AUM, market analytics, business development company, Non-accruals, BDC Filings, fair value, market update, top 5, adds & exits
In a week where BDC common stock prices should have been all about the results coming out of the first week of earnings season, there were other forces at play.
The Fed cut rates in the most telegraphed move since the invention of the telegraph itself and the Trump Administration returned to tariff wielding.
Without getting into the whys, the result was that the major indices fell out of bed – again.
The S&P 500, the Nasdaq and the Dow Jones indices were all off between (2.5%) and (3.8%).
For the S&P, this was the worst week of 2019 and all the major indices dropped below their 50 Day Moving Averages, according to CNBC.
Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research
BDCs Filing season is in full swing. This report will utilize Advantage Data’s BDC workstation to analyze Q2 2019 filing data. As of Friday, August 2nd, 2019 Aggregate Fair Value reported by BDCs that have filed in Q2 2019 is at 33 Billion USD (Fair Value) which is approximately 31% of aggregate AUM of all BDCs.
Topics: Analytics, BDC, AUM, market analytics, business development company, Non-accruals, BDC Filings, fair value, market update, top 5, adds & exits
We’re committed to writing a weekly assessment of where the BDC common market stands because a lot can happen in a short time.
Miss the signals of a change in market direction and investors can fall behind/miss out in just a few days and not have another opportunity for months or even years.
We don’t have to look far back in time for a helpful example.
Between December 24, 2018 and January 10, 2019 BDCS – our proxy for the sector – moved up more than 10%.
That’s a whole year of dividend income in 12 business days.
Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research
The week was not a good one for the major indices, all of which were down in the period. The BDC sector was not spared, with both indicators we use for price and total return in the red.
The UBS Exchange Traded Note, which includes most every public BDC – with the ticker BDCS – was off (0.25%). Likewise, the all-inclusive Wells Fargo BDC Index was down by (0.74%).
Thirty one individual BDC issues dropped in price, and just fourteen were unchanged or increased. The week before 28 issues had increased in price and 37 the week before that.
Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research
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