Carlyle Credit Income Fund (CCIF)

Overview

The Carlyle Credit Income Fund (CCIF) is an actively managed ETF focused on generating income by investing primarily in private credit investments, including loans and other debt instruments. The fund aims to provide current income and, secondarily, capital appreciation through exposure to various credit assets.

Reputation and Reliability

Carlyle is a well-established global alternative asset manager with a significant presence in private credit. They are considered to be a reputable firm but the fund is relatively new and does not have a long track record.

Management Expertise

Carlyle's investment team has extensive experience in credit markets and private debt, which is essential for navigating the complexities of this asset class.

Goal

The primary investment objective of the Carlyle Credit Income Fund (CCIF) is to seek current income, with a secondary objective of capital appreciation.

Investment Approach and Strategy

Strategy: CCIF is actively managed and does not track a specific index. It invests across various segments of the private credit market.

Composition CCIF primarily holds private credit investments, including direct lending, syndicated loans, and other credit instruments. The allocation may also include some publicly traded debt.

Market Share: CCIF has a small market share as a relatively new entrant in the private credit ETF space.

Total Net Assets (AUM): 143600000

Key Competitors

• XFLT
• ECC
• OXSQ

Competitive Landscape

The private credit ETF market is competitive, with several established players. CCIF's advantage lies in Carlyle's extensive private credit platform and sourcing capabilities. A disadvantage is its relatively short track record compared to some competitors.

Historical Performance: Historical performance data is limited due to the fund's recent inception. Returns are influenced by the performance of its underlying private credit investments.

Benchmark Comparison: A relevant benchmark for CCIF is difficult to pinpoint due to its unique private credit focus, but a possible comparison could be against high-yield bond benchmarks.

Expense Ratio: 0.43

Average Trading Volume

CCIF's average trading volume is moderate, reflecting its smaller size and niche focus.

Bid-Ask Spread

The bid-ask spread may be wider compared to more liquid ETFs, due to the less liquid nature of the underlying assets.

Market Environment Factors

Economic growth, interest rates, and credit spreads influence CCIF's performance. A strong economy typically benefits credit investments, while rising rates can present challenges.

Growth Trajectory

CCIF's growth depends on its ability to attract assets and generate attractive returns in the private credit market. Changes to strategy and holdings will reflect Carlyle's views on the credit environment.

Competitive Edge

CCIF's competitive edge stems from Carlyle's established private credit platform and ability to source attractive investment opportunities. The fund's access to Carlyle's deep network and expertise in private lending provides a significant advantage in selecting and managing credit investments. This unique access potentially allows the fund to achieve higher returns compared to funds relying solely on publicly traded debt. Additionally, Carlyle's rigorous due diligence and risk management processes provide an added layer of security for investors. The active management approach allows for flexibility in navigating changing market conditions.

Volatility

CCIF's volatility is likely to be moderate compared to equity ETFs, but higher than investment-grade bond ETFs due to the nature of private credit.

Market Risk

Specific risks include credit risk (the risk of borrower default), liquidity risk (difficulty selling assets), and interest rate risk (sensitivity to rising rates).

Ideal Investor Profile

The ideal investor is one seeking income and willing to accept a higher level of risk associated with private credit investments. Investors should have a long-term investment horizon.

Market Risk

CCIF is suitable for long-term investors seeking income diversification and exposure to the private credit market. It is less suitable for active traders or those seeking passive index tracking.

Carlyle Credit Income Fund (CCIF) is an actively managed ETF providing exposure to the private credit market. It seeks to generate current income and capital appreciation through investments in various debt instruments. CCIF offers diversification and access to private credit managed by Carlyle's experienced team. However, the fund carries credit and liquidity risks and is best suited for long-term investors with a higher risk tolerance and relatively new status. Its smaller AUM and moderate trading volume should also be considered.

Data Sources:

• Carlyle Credit Income Fund Fact Sheet
• ETF.com
• Morningstar
• Company Filings

Disclaimers:

The information provided is for informational purposes only and does not constitute financial advice. Investment decisions should be based on individual circumstances and after consultation with a financial advisor. Market share data is based on publicly available information and may not be exact.