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Bluerock High Income Institutional Credit Fund announced its Q4 2024 distribution at a 12.2% annualized rate, marking its tenth consecutive quarterly distribution. The Fund achieved a 13.7% total return in 2024 and paid approximately $0.72 per share for Q4 2024 shareholders.
The Fund has strategically diversified its portfolio in 2024, focusing on senior positions within the CLO structure. As of December 31, 2024, it manages approximately $177 million in net assets and maintains positions in 93 collateralized loan obligations, representing about $30 billion in aggregate underlying loan value across over 2,250 senior secured loans.
The Fund's I-Share (IIMWX) performance shows a 13.70% one-year return and a 10.08% return since its inception in June 2022. The Fund has implemented expense limitations until January 31, 2026, capping net annual operating expenses at 2.10% for A shares, 2.85% for C shares, and 1.85% for I shares.
Bluerock High Income Institutional Credit Fund (IIMAX) announced its Q3 2024 distribution, marking the ninth consecutive quarterly regular distribution at a rate of 2.75% (11% annualized) plus a supplemental distribution of 0.85% (3.4% annualized), totaling a 14.4% annualized rate. Shareholders invested for the entire quarter will receive approximately $0.85 per share. The Fund has paid about $6.40/share in total distributions since its inception on 6.21.2022.
The Fund has diversified its portfolio, investing in more senior positions within the CLO capital structure, reducing potential risk while maintaining double-digit yield generation. It currently holds positions in 68 collateralized loan obligations representing about $25 billion in aggregate underlying loan value, with exposure to approximately 1,850 underlying senior secured loans across various industries. The Fund's net assets under management are approximately $161 million as of September 30, 2024.
