ProShares Global Listed Private Equity
Prospect Capital: Impact of Macro Policy Decisions, Reforms
Prospect Capital (PSEC) is registered as a business development company (or BDC), which means that if it pays 90% of its profits in dividends, it won’t have to pay any taxes.
What to Expect for Prospect Capital’s Yield Expansion in 2018
Prospect Capital (PSEC) has seen a decline in yields in recent quarters to 9.9% compared to a high of 13% in 2016.
Prospect Deploying towards Real Estate, Structured Investments
Controlled, online lending Prospect Capital’s (PSEC) controlled investments in fiscal 2Q17 rose to 31.5% of its total portfolio, compared with 30.6% in the previous quarter. The company targets selective exits to raise capital when it has found attractive pricing. In fiscal 2Q17, it saw net exits of $175.5 million, compared with net investments of $232.8 million […]
Prospect Capital Focusing on Structured, Controlled Investments
Prospect Capital (PSEC) has deployed money for equity investments and majority stake when there’s an opportunity for an investment in growing businesses.
Originations, Retail Lending Are Key Drivers for Closed-End Funds
Closed-end funds have seen subdued originations over the past few quarters. Quality originations commanding higher yields continue to drive closed-end funds’ stock performances.
What to Expect from Prospect’s, Ares’s, BlackRock’s 4Q16 Earnings
BlackRock Capital Investment (BKCC) is expected to report EPS (earnings per share) of $0.23 in 4Q16, compared to earlier estimates of $0.25.
Prospect, Arlington Reward Shareholders with High Dividend Yields
Closed-end companies (PEX) tend to pay higher dividends, with dividend payout ratios in the range of 70%–100%.
Why Closed-End Funds Are Deploying Higher Leverages
Closed-end funds have been deploying leverage in bids to take advantage of near-zero interest rates following the 2007 financial crisis.
Prospect’s, Ares’s Originations Rise, BlackRock’s, Apollo’s Fall
The availability of credit has led to higher competition among investors and closed-end funds (PEX) seeking better investment options.
Prospect’s and Ares’s Yields Fell, BlackRock’s Rose in 3Q16
Closed-end funds (PEX) have been targeting higher yields by investing in second lien—or marginally risky—offerings or companies.
Prospect Capital’s Controlled Investments, Structured Credit Expansion
Prospect Capital’s (PSEC) controlled investments in fiscal 1Q17 rose to 30.6% of its total portfolio, as compared to 29.7% in the previous quarter.
Exploring PSEC’s Online Lending and Structured Credit Investments
Prospect Capital has seen strong growth in originations through its online platform. The company has entered into the online lending business with National Property REIT.
Closed-End Funds Face Leverage Issues as Rate Hike Looms
Ares Capital’s (ARCC) net DE (debt-to-equity) ratio decreased to 0.73x on June 30, 2016. Management had targeted a DE ratio of 0.65x–0.75x.
Volatility Continues to Cause Net Exits for Closed-End Funds
Prospect Capital (PSEC) made portfolio investments of $294 million in the June quarter, a substantial rise from its investment of $23 million in the March quarter.
Prospect, BlackRock Lead in Yields among Closed-End Funds
Closed-end funds (PEX) have been boosting their yields by deploying capital in marginally risky asset classes or companies.
Prospect Capitalizes on Its Controlled and Structured Credit in 4Q
Prospect Capital’s (PSEC) controlled investments in fiscal 4Q16 declined to 29.7% of its total portfolio, as compared to 33.3% in the previous quarter.
Prospect to Deploy More in Control, Online, Structured in 4Q16
Prospect Capital’s (PSEC) controlled investments in the March quarter stood at 33.3% of its total portfolio compared to 32.5% in the previous quarter.
What to Expect from Closed-End Fund Earnings and Consolidation in 2016
Closed-end funds will be tested on a quality of their portfolios. Companies with higher leverage and lower grade investments will see discounted valuations.
Where Do Closed-End Funds Stand on Dividends in 2016?
Closed-end funds tend to pay higher dividends, with dividend payout ratios in the range of 70%–90%.
What’s Happening to Closed-End Funds as Interest Rates Remain Low?
Closed-end funds are replacing their existing debt in order to reduce the effective rate of interest. Prospect Capital’s cost of debt is approximately 5.4%.
How Closed-End Funds Are Increasing Yields on a Given Risk
Closed-end funds (PEX) have been boosting yields by deploying capital in marginally risky asset classes or companies.
PSEC Cashes In on Its Controlled and Structured Credit Strategy
Prospect Capital’s (PSEC) controlled investments in fiscal 3Q16 stood at 33.3% of its total portfolio compared to 32.5% in the previous quarter.
Prospect Capital’s Valuation: Can It Improve in Fiscal 3Q16?
Prospect’s valuation gap has declined over the past one month due to a sharp pullback in stock followed by a strong performance during the December quarter.
Why Closed-End Funds Are Increasing Leverage
Closed-end funds have taken advantage of low interest rates inside and outside the US by deploying capital in asset classes that yield higher returns.
BlackRock, Prospect, and Ares: What to Expect from Their Earnings
BlackRock Capital Investment (BKCC) is expected to post $0.26 earnings per share in 1Q16, which would represent growth of 5%.
ETFs that Invest in Private Equity Funds
Investors can purchase shares of ETFs that track an index of publicly traded companies that invest in PE funds.