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Morgan Stanley Direct Lending Fund (MSDL)

BDC - Debt Focused BDC

Data as of July 16, 2024
Market Price $23.27 (+ $0.15)
NAV (March 31, 2024) $20.67 ( $0.00)
Fund Listed NYSE
Premium / Discount 12.58% (+0.73%)
Fund Info
Inception Nov. 25, 2019
Sponsor MS Capital Partners Adviser
Website https://www.msdl.com/
Location New York
Incorporated Delaware
Staggered Board Yes
Term Date N/A
Objective: attractive risk-adjusted returns via current income and, to a lesser extent, capital appreciation by investing in senior secured term loans of U.S. middle-market companies.
Related Indexes
Debt-Focused Business Development Company (BDC) Index
Premium CEF/BDC Index
Capital & Leverage
Outstanding Shares 89,407,008
Total Assets (Reported: March 31, 2024) $3,401M
Estimated Total Assets $3,283M
Net Assets $1,848M
Market Cap $2,081M
Portfolio Turnover 8.84%
Debt-to-Equity 0.8093
Total Leverage 43.71%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 9.99%
Non Lev Exp Ratio 3.86%
Gross Asset Expense Ratio 5.23%
Gross Asset Non Lev Exp Ratio 2.02%
Rel Lev Cost 7.33%
Discount Data
Average Discount (3 Yr) 5.07%
Discount Low(3 Yr) -5.03%
Discount High(3 Yr) 16.74%
Discount Rel Range (3 Yr) 80.89%
Comp Discount 12.14
Discount St Dev (1Yr) 5.60
Z-Stat (6mo) 1.34
Z-Stat (1Yr) 1.34
Z-Stat (3Yr) 1.34
Comp Z-Stat (6mo) 0.88
Comp Z-Stat (3Yr) 0.77
Distribution Data
Market Yield 8.59%
Income Yield 8.59%
Lev Adj NAV Yield 6.73%
Av Yield on Debt Investments 12.00
Distribution Frequency Q
Current Distribution $0.500
Current Income $0.500
Ex-Date 6/28/24
Payable Date 7/25/24
Div Growth (3yr) %
Dividend Change % on
Expected Div
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (K) $966
Avg Volume 30 day 45,119
Avg Volume 90 day 41,521
Volume Trend 8.67%
Comp Volume Trend 12.99%
Correlation & Volatility
Price St Dev (1Yr) 31.2%
NAV St Dev (1Yr) 0.0%
Earnings / Share (3/31/24) $0.615
Adj Core NII Coverage 122.96%
1 Yr Avg NII Coverage 132.21%
1 Yr Avg Adj Core NII Coverage 132.21%
NII Trend -8.80%
Adj Core NII Trend -8.80%
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 % 0.88%
% Loans with Libor Floor 99%


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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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