CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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CM Finance Inc (CMFN)

BDC - Debt Focused

Data as of Dec. 14, 2018
Market Price $7.40 (- $0.12)
NAV (Sept. 30, 2018) $12.41 ( $0.00)
Premium / Discount -40.37% (-0.97%)
Fund Info
Inception Feb. 6, 2014
Sponsor CM Investment Partners
Website http://cmfn-inc.com/
Phone (212) 257-5199
Objective: Total return in the form of current income and capital appreciation through debt and related equity investments of U.S. middle-market companies.
Related Indexes
High Income Index
Discount CEF/BDC Index
Capital & Leverage
Outstanding Shares 13,642,850
Total Assets (Reported: Sept. 30, 2018) $341M
Estimated Total Assets $299M
Net Assets $169M
Market Cap $101M
Debt-to-Equity 0.8755
Total Leverage 43.45%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 11.37%
Non Lev Exp Ratio 5.60%
Gross Asset Expense Ratio 5.68%
Gross Asset Non Lev Exp Ratio 2.79%
Rel Lev Cost 6.63%
Discount Data
Average Discount (3 Yr) -25.80%
Discount Low(3 Yr) -43.14%
Discount High(3 Yr) -13.15%
Discount Rel Range 9.23%
Comp Discount -24.76
Discount St Dev (1Yr) 3.92
Z-Stat (6mo) -2.62
Z-Stat (1Yr) -2.16
Z-Stat (3Yr) -2.08
Comp Z-Stat (6mo) -0.88
Comp Z-Stat (3Yr) -1.19
Distribution Data
Market Yield 13.51%
Income Yield 13.51%
Lev Adj NAV Yield 5.62%
Av Yield on Debt Investments 10.90
Distribution Frequency Q
Current Distribution $0.250
Current Income $0.250
Ex-Date 12/13/18
Payable Date 1/3/19
Div Growth (3yr) -27.93%
Dividend Change -28.9% on 11/9/16
Expected Div 2/5/19
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Tax Dividend Data 2017 2015 - 2017
Income 100% 99.7%
ST Gains 0% 0%
QDI 0% 0%
LT Gains 0% 0.3%
RoC 0% 0%
Volume & Liquidity
Average Daily $ (M) $149
Avg Volume 30 day 20,663
Avg Volume 90 day 20,135
Volume Trend 2.62%
Comp Volume Trend -6.81%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's BDC Index
Most Correlated Peer (Mk Pr): OCSL 59.0%
Price St Dev (1Yr) 26.1%
NAV St Dev (1Yr) 1.6%
Earnings / Share (9/30/18) $0.250
Adj Core NII Coverage 99.91%
1 Yr Avg NII Coverage 141.74%
1 Yr Avg Adj Core NII Coverage 160.63%
NII Trend 61.50%
Adj Core NII Trend 96.37%
Loan Specific Data
Maturity 3.87
Price Beta (2yr)
vs. S&P 500 (TR)
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
Portfolio Data
Avg Libor Floor % 1.04%
% Loans with Libor Floor 83%


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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