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Morgan Stanley Direct Lending Fund (MSDL)

BDC - Debt Focused BDC

Data as of Dec. 4, 2024
Current
Market Price $21.33 (+ $0.25)
NAV (Sept. 30, 2024) $20.83 ( $0.00)
Fund Listed NYSE
Premium / Discount 2.40% (+1.20%)
Fund Info
Inception Nov. 25, 2019
Sponsor MS Capital Partners Adviser
Website https://www.msdl.com/
Phone
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
60/40 Balanced (w/ BDCs) Index
Taxable Bond & BDC Index
Capital & Leverage
Outstanding Shares 88,770,021
Total Assets (Reported: Sept. 30, 2024) $3,793M
Estimated Total Assets $3,594M
Net Assets $1,849M
Market Cap $1,893M
Portfolio Turnover 23.36%
Debt-to-Equity 0.9934
Total Leverage 48.55%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 11.22%
Non Lev Exp Ratio 3.93%
Gross Asset Expense Ratio 5.38%
Gross Asset Non Lev Exp Ratio 1.88%
Rel Lev Cost 7.20%
Discount Data
Average Discount (3 Yr) 1.46%
Discount Low(3 Yr) -7.20%
Discount High(3 Yr) 16.74%
Discount Rel Range (3 Yr) 40.11%
Comp Discount 5.16
Discount St Dev (1Yr) 5.99
Z-Stat
Z-Stat (6mo) 0.34
Z-Stat (1Yr) 0.16
Z-Stat (3Yr) 0.16
Comp Z-Stat (6mo) 0.10
Comp Z-Stat (3Yr) -0.24
Distribution Data
Market Yield 9.38%
Income Yield 9.38%
Lev Adj NAV Yield 6.46%
Av Yield on Debt Investments 11.00
Distribution Frequency Q
Current Distribution $0.500
Current Income $0.500
Ex-Date 12/31/24
Payable Date 1/24/25
Div Growth (3yr) %
Dividend Change % on
Expected Div 2/3/25
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (K) $8,116
Avg Volume 30 day 527,663
Avg Volume 90 day 380,513
Volume Trend 38.67%
Comp Volume Trend 20.93%
Correlation & Volatility
Price St Dev (1Yr) 27.0%
NAV St Dev (1Yr) 0.8%
Earnings
Earnings / Share (9/30/24) $0.660
Adj Core NII Coverage 131.96%
1 Yr Avg NII Coverage 128.42%
1 Yr Avg Adj Core NII Coverage 128.42%
NII Trend 0.52%
Adj Core NII Trend 0.52%
Performance
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 % 0.86%
% Loans with Libor Floor 94%

DISCLOSURES:

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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