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 (CMFN)

BDC - Debt Focused

Data as of Dec. 12, 2017
Current
Market Price $8.30 (- $0.10)
NAV (Sept. 30, 2017) $12.39 ( $0.00)
Premium / Discount -33.01% (-0.81%)
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 13,690,480
Gross Assets $311M
Net Assets $170M
Market Cap $114M
Debt-to-Equity 0.7531
Total Leverage 43.16%
Structural Leverage (out of total) 95.12%
Portfolio Leverage (out of total) 4.88%
Expense Ratio 8.74%
Non Lev Exp Ratio 5.06%
Gross Asset Expense Ratio 4.77%
Gross Asset Non Lev Exp Ratio 2.76%
Rel Lev Cost 4.65%
Discount Data
Average Discount (3 Yr) -20.04%
Discount Low(3 Yr) -43.14%
Discount High(3 Yr) -1.18%
Discount Rel Range 24.14%
Comp Discount -24.67
Discount St Dev (1Yr) 5.02
Z-Stat
Z-Stat (6mo) -1.85
Z-Stat (1Yr) -2.51
Z-Stat (3Yr) -1.65
Comp Z-Stat (6mo) -1.40
Comp Z-Stat (3Yr) -1.62
Distribution Data
Market Yield 12.05%
Income Yield 12.05%
Lev Adj NAV Yield 5.64%
Distribution Frequency Q
Current Distribution $0.250
Current Income $0.250
Ex-Date 12/14/17
Payable Date 1/4/18
Div Growth (3yr) -25.93%
Dividend Change -28.9% on 11/9/16
Expected Div 2/2/18
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $276
Avg Volume 30 day 35,200
Avg Volume 90 day 33,286
Volume Trend 5.75%
Comp Volume Trend -1.40%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
16.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
24.0%
Price Correlation (1yr)
vs. CEFA's BDC Index
-2.0%
Most Correlated Peer (Mk Pr): PSEC 24.0%
Price St Dev (1Yr) 22.5%
NAV St Dev (1Yr) 2.9%
Earnings
Earnings / Share (9/30/17) $0.220
Adj Core NII Coverage 88.12%
1 Yr Avg NII Coverage 107.73%
1 Yr Avg Adj Core NII Coverage 107.73%
NII Trend -0.07%
Adj Core NII Trend -0.07%
Loan Specific Data
Maturity 4.37
Performance
Price Beta (2yr)
vs. S&P 500 (TR)
1.04
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
1.14
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
0.91
Portfolio Data
Avg Libor Floor % 1.05%
% Loans with Libor Floor 93%

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CEFData.com makes data for the universe of closed-end funds (CEFs) and business development companies (BDCs) available to its users. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. This site does not list all the risks associated with each fund. Investors should contact a fund’s sponsor for fund-specific risk information and/or contact a financial advisor before investing.

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.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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