Apollo Tactical Income Fund Inc (N:AIF)
Business Focus: Closed End Funds
| Sector: Financials | Industry: Closed End Funds |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 9 W 57th St NEW YORK NY 10019-2701 |
| Tel: | 1-212-8220625 |
| Website: | https://www.apollofunds.com/apollo-tactical-income-fund |
| IR: | See website |
| Key People | ||
| Joseph A. Moroney President, Chief Investment Officer | Kenneth Seifert Chief Financial Officer, Treasurer | Ryan Del Giudice Chief Compliance Officer | Kristin Hester Secretary, Chief Legal Officer |
| Business Overview |
| Apollo Tactical Income Fund Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's primary investment objective is to seek current income with a secondary objective of preservation of capital. The Fund seeks to achieve its investment objectives primarily by allocating its assets among different types of credit instruments based on absolute and relative value considerations and its analysis of the credit markets. Under normal market conditions, at least 80% of the Fund's managed assets will be invested in credit instruments and investments with similar economic characteristics. For the purpose of this policy, credit instruments include senior loans, subordinated loans, high yield corporate bonds, notes, bills, debentures, distressed securities, mezzanine securities and structured products, including, without limitation, collateralized debt obligations and collateralized loan obligations. The Fund's investment adviser is Apollo Credit Management, LLC. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Apollo Tactical Income Fund Inc revenues increased 40% to $36.3M. Net income totaled $34.7M vs. loss of $21.9M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net Income reflects Net change in unrealized depreciation on increase from $28.1M (expense) to $19.3M (income), Net realized loss on investments decrease of 27% to $8.1M (expense). |
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