Gladstone Investment Corp.

Frequently Asked Questions About GAIN

What does GAIN invest in?

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options. The fund does not invest in start-ups. The fund seeks to invest in manufacturing, consumer products and business/consumer services sector. It seeks to invest in small and mid-sized companies based in the United States. The fund prefers to make debt investments between $5 million and $30 million and equity investments between $10 million and $40 million in companies. The fund invests in companies with EBITDA from $4 million to $15 million. It seeks minority equity ownership and prefers to hold a board seat in its portfolio companies. It also prefers to take majority stake in its portfolio companies. The fund typically holds the investments for seven years and exits via sale or recapitalization, initial public offering, or sale to third party.

What is the expense ratio of GAIN?

An expense ratio for Gladstone Investment Corp. (GAIN) is not available from our data sources — neither our market-data feed nor the SEC's structured prospectus and annual-report datasets report one for this share class. The fund's prospectus on the issuer's site carries the authoritative fee.

How big is GAIN?

Gladstone Investment Corp. (GAIN) manages $639.1M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is GAIN actively managed or an index fund?

GAIN's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was GAIN launched?

Gladstone Investment Corp. (GAIN) launched in June 2005 and is managed by the fund issuer.

How has GAIN performed?

GAIN's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.