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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Saratoga Inv Corp (SAR)

BDC - Debt Focused

Data as of June 22, 2018
Market Price $24.28 (+ $0.35)
NAV (Feb. 28, 2018) $22.96 ( $0.00)
Premium / Discount 5.75% (+1.52%)
Fund Info
Inception March 23, 2007
Sponsor Saratoga Investment Advisors
Website www.saratogainvestment...
Phone 212-906-7800
Objective: Attractive risk-adjusted returns by generating current income from its debt investments and capital appreciation from its equity investments in middle market companies.
Capital & Leverage
Outstanding Shares 6,282,384
Gross Assets (Reported: Feb. 28, 2018) $360M
Estimated Gross Assets $349M
Net Assets $144M
Market Cap $153M
Debt-to-Equity 0.5133
Total Leverage 58.67%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 20.10%
Non Lev Exp Ratio 12.15%
Gross Asset Expense Ratio 7.56%
Gross Asset Non Lev Exp Ratio 4.57%
Rel Lev Cost 5.10%
Discount Data
Average Discount (3 Yr) -14.46%
Discount Low(3 Yr) -40.24%
Discount High(3 Yr) 7.49%
Discount Rel Range 96.35%
Comp Discount 15.28
Discount St Dev (1Yr) 4.32
Z-Stat (6mo) 2.10
Z-Stat (1Yr) 2.24
Z-Stat (3Yr) 1.59
Comp Z-Stat (6mo) 1.64
Comp Z-Stat (3Yr) 1.63
Distribution Data
Market Yield 8.40%
Income Yield 8.40%
Lev Adj NAV Yield 5.60%
Av Yield on Debt Investments 11.10
Distribution Frequency Q
Current Distribution $0.510
Current Income $0.510
Ex-Date 6/14/18
Payable Date 6/27/18
Div Growth (3yr) 88.89%
Dividend Change 2.0% on 5/30/18
Expected Div 8/30/18
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $384
Avg Volume 30 day 20,892
Avg Volume 90 day 15,810
Volume Trend 32.14%
Comp Volume Trend 24.55%
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): ACSF 41.0%
Price St Dev (1Yr) 24.6%
NAV St Dev (1Yr) 3.7%
Earnings / Share (2/28/18) $0.531
Adj Core NII Coverage 118.18%
1 Yr Avg NII Coverage 108.96%
1 Yr Avg Adj Core NII Coverage 116.37%
NII Trend -0.03%
Adj Core NII Trend 0.00%
Loan Specific Data
Maturity 3.74
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 % %
% Loans with Libor Floor 0%


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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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