ADDISON, Texas, Feb. 2, 2016 /PRNewswire/ -- The board of directors of Vertical Capital Income Fund (ticker VCAPX; the "Fund") has released Fund performance data for the period ending December 31, 2015. The Fund produced a total return of 12.75% for calendar year 2015—or 7.67% including the 4.50% sales load—as well as a 6.95% total return for Q4 2015. The Fund's total assets under management exceed $168 million.
"We are pleased by the Fund's strong performance for calendar year 2015, as well as the positive returns posted in the fourth quarter," said Robert J. Chapman, Chairman of the Fund's board of directors.
Since inception, the Fund has produced a total return of 9.64%—or 8.39% including a 4.50% sales load—compared to a total return of 2.16% for the Barclays Capital Mortgage Backed Securities Index, which reflects the performance of investment grade fixed-rate mortgage-backed pass-through securities.
Past performance is neither indicative nor a guarantee of future results. The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. The investment return and principal value of an investment will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. The Fund's investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the Fund, at least until 1/31/17, to ensure that the net annual Fund operating expenses will not exceed 1.85% (excluding Acquired Fund Fees and Expenses), subject to possible recoupment from the Fund in future years. Without these waivers, the Fund's total annual operating expenses would be 2.46%. Mutual funds involve risk including the possible loss of principal. Please review the Fund's prospectus for more information regarding the Fund's fees and expenses. For performance information current to the most recent month-end, please go to provasicapital.com or call toll-free 866.277.VCIF
About Vertical Capital Income Fund
Vertical Capital Income Fund is a closed-end, continuously offered interval fund that primarily invests in residential whole mortgage loans and residential whole loans secured by deeds of trust. As a closed-end interval fund, it provides limited liquidity on a quarterly basis. The investment objective of the Fund is to seek income.
This release contains forward-looking statements relating to the business and financial outlook of Vertical Capital Income Fund that are based on our current expectations, estimates, forecasts and projections and are not guarantees of future performance. There is no assurance that the Fund will achieve its investment objective. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release.
Investment company shares involve risk including the possible loss of principal. There is a risk that issuers will not make payments on securities and other investments held by the Fund, resulting in losses to the Fund. In general, the price of a fixed-income security falls when interest rates rise. A specific security can perform differently from the market as a whole for reasons related to the issuer, such as an individual's economic situation, the Fund's net asset value may be more volatile because it invests in notes of individuals. Securities may be subject to prepayment risk because issuers are typically able to prepay principal. The Fund will not invest in real estate directly, but, because the Fund will invest the majority of its assets in securities secured by real estate, its portfolio will be significantly impacted by the performance of the real estate market and may experience more volatility and be exposed to greater risk than a more diversified portfolio. Quarterly repurchases by the Fund of its shares typically will be funded from available cash or sales of portfolio securities. The sale of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Fund's net asset value.
Investors should carefully consider the investment objectives, risks, charges and expenses of Vertical Capital Income Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 866.277.VCIF (866.277.8243). The prospectus should be read carefully before investing. Vertical Capital Income Fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Wholesale distribution services are provided by Provasi Capital Partners LP, member FINRA/SIPC. Vertical Capital Income Fund, and Provasi Capital Partners LP are not affiliated with Northern Lights Distributors, LLC.
For Vertical Income Fund
SOURCE Vertical Capital Income Fund