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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FS Investment Corporation (FSIC)

BDC - Debt Focused

Data as of Dec. 14, 2018
Current
Market Price $5.67 (- $0.18)
NAV (Sept. 30, 2018) $8.64 ( $0.00)
Premium / Discount -34.38% (-2.08%)
Fund Info
Inception April 16, 2014
Sponsor FB Income Advisor
Website www.fsinvestmentcorp.com/
Phone 267-439-4375
Objective: Current income, and to a lesser extent, long-term capital appreciation. It invest in senior secured loans and second lien secured loans of private middle market U.S. companies.
Related Indexes
12 Major CEF Sectors Index
Debt-Focused Business Development Company (BDC) Index
High Income Index
60/40 Balanced (w/ BDCs) Index
Taxable Bond & BDC Index
Discount CEF/BDC Index
Alternative Income Index
Capital & Leverage
Outstanding Shares 239,154,069
Total Assets (Reported: Sept. 30, 2018) $3,698M
Estimated Total Assets $3,557M
Net Assets $2,066M
Market Cap $1,356M
Debt-to-Equity 0.7501
Total Leverage 41.92%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 7.07%
Non Lev Exp Ratio 3.27%
Gross Asset Expense Ratio 4.16%
Gross Asset Non Lev Exp Ratio 1.92%
Rel Lev Cost 5.33%
Discount Data
Average Discount (3 Yr) -6.99%
Discount Low(3 Yr) -32.99%
Discount High(3 Yr) 14.77%
Discount Rel Range 1.45%
Comp Discount -18.77
Discount St Dev (1Yr) 5.15
Z-Stat
Z-Stat (6mo) -1.95
Z-Stat (1Yr) -2.62
Z-Stat (3Yr) -2.34
Comp Z-Stat (6mo) -0.62
Comp Z-Stat (3Yr) -1.66
Distribution Data
Market Yield 13.40%
Income Yield 13.40%
Lev Adj NAV Yield 6.20%
Av Yield on Debt Investments 11.10
Distribution Frequency Q
Current Distribution $0.190
Current Income $0.190
Ex-Date 12/11/18
Payable Date 1/2/19
Div Growth (3yr) -14.70%
Dividend Change -14.7% on 11/9/17
Expected Div 3/4/19
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $7,084
Avg Volume 30 day 1,213,491
Avg Volume 90 day 1,249,306
Volume Trend -2.87%
Comp Volume Trend -11.22%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
42.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
54.0%
Price Correlation (1yr)
vs. CEFA's BDC Index
65.0%
Most Correlated Peer (Mk Pr): TPVG 60.0%
Price St Dev (1Yr) 19.9%
NAV St Dev (1Yr) 4.6%
Earnings
Earnings / Share (9/30/18) $0.235
Adj Core NII Coverage 123.42%
1 Yr Avg NII Coverage 112.02%
1 Yr Avg Adj Core NII Coverage 112.02%
NII Trend -0.08%
Adj Core NII Trend -0.08%
Loan Specific Data
Maturity 4.38
Performance
Price Beta (2yr)
vs. S&P 500 (TR)
0.50
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
1.16
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
1.17
Portfolio Data
Avg Libor Floor % 1.18%
% Loans with Libor Floor 80%

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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.

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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