Guggenheim Credit Income Fund’s Offerings

GCIF 2019 (Closed)

This fund is closed and no longer open to new investment.

For advisory and brokerage accounts

GCIF 2016 T (Closed)

GCIF 2016 T closed to new investors on April 28, 2017.

For brokerage accounts

Planned Liquidation

In accordance with the offering documents and the intention of GCIF 2016 T and GCIF 2019 to provide substantial shareholder liquidity, the Boards of Trustees of Guggenheim Credit Income Fund (the Master Fund), and GCIF 2016 T and GCIF 2019 (the Feeder Funds) approved respective Plans of Liquidation for each company on March 30, 2021 (each, a Plan). In accordance with the Plans, the Board has declared multiple liquidating distributions which are outlined in the table below. These distributions have been substantially composed of return of capital and have decreased the net asset value of the Master Fund and Feeder Funds. As such, the value on shareholder’s investment statements has decreased as liquidating distributions have been paid.

In order to allow for an orderly liquidation, the Feeder Funds will not conduct future tender offers and have ceased their dividend reinvestment programs. All Feeder Fund shareholders who have historically had their distributions reinvested into new shares of the Feeder Fund will now receive cash distributions.

For the Master Fund, as of May 15, 2023, over 85% of the NAV has been declared to be paid to shareholders in the form of liquidating distributions.

The table below is intended to highlight some relevant metrics associated with the Plans of Liquidation ($ in thousands).

Noted Information GCIF
(Master Fund)
GCIF 2016 T GCIF 2019
Cumulative Liquidating Distributions declared per share through May 10, 2024 $7.23 $7.60 $20.86
Number of Portfolio Companies at beginning of Year 10
Number of Portfolio Companies at end of Period 9
YTD Portfolio sales and repayments ($ in thousands) $7,827 $– $–
Percentage of December 31, 2020 NAV Declared through May 10, 2024 95.60% 95.20% 92.00%
Net Assets at beginning of Year ($ in thousands) $27,777 $18,397 $6,097
Net Assets at end of Period ($ in thousands) $28,425 $18,706 $6,157
Net asset value per share at end of period $1.11 $1.15 $3.55

The Net Asset Values and shareholder total returns will be updated in the Funds’ next 10-Q filings.

Risk Considerations
The fund is not suitable for all investors.
An investment in the fund is speculative and involves a high degree of risk. • The private debt strategy discussed herein engages in leveraging, and other speculative investment practices that may increase the risk of investment loss. An investment strategy focused on privately-held companies presents certain challenges, including the lack of available information about the companies. • Investments in bank loans and other floating rate securities involve special types of risks, including credit risk, interest rate risk, liquidity risk and prepayment risk. • The strategy’s exposure to high yield securities (e.g. junk bonds) may subject the fund to greater volatility, and involves significant risks, including credit risk, interest rate risk and liquidity risk. • Some asset backed securities, including mortgage-backed securities, may have structures that make their reaction to interest rates and other factors difficult to predict, making their prices very volatile and they are subject to liquidity risk. • The fund may invest in derivative instruments, which may be more volatile and less liquid, increasing the risk of loss when compared to traditional securities. • A potential conflict of interest may arise when GPIM or any of its affiliates participate in loan arrangements for which it is providing investment management services, investment banking services or other transaction related services and in which the strategy also invests. • The fund is highly illiquid and appropriate only as a long-term investment for persons of adequate financial means who do not have a need for liquidity in their investment; thus, it is not suitable if you need access to the money invested in the foreseeable future. • The fund does not currently intend to list shares on any securities exchange and a secondary market is not expected to develop; as such, you may be unable to sell your shares during a market downturn • The Board of Trustees may, but is not required to, implement a share repurchase program; however, only a limited number of Shares will be eligible for repurchase and any such repurchases will be at net asset value, which may be less than the purchase price. If a share repurchase program is implemented, no more than 10% of the weighted average number of outstanding Shares in any 12-month period are expected to be eligible, until a liquidity event occurs; however, a liquidity event is not guaranteed. • The fund has a finite term and may liquidate assets at a time that is disadvantageous based on market conditions, which may result in losses. • Distributions may be funded from offering proceeds or borrowings, which may constitute a return of capital and reduce the amount of capital available for investment, and are distributed after payment of the sales load and fees and expenses. • Distributions may also be funded in significant part from the reimbursement of certain expenses, which are subject to repayment to the Advisor, as well as from waivers of certain investment advisory fees, which are not subject to repayment; thus, significant portions of these distributions may not be based on investment performance and such waivers and reimbursements may not continue in the future. • If the Advisor does not agree to reimburse certain expenses, significant portions of distributions may come from offering proceeds or borrowings. • The repayment of any amounts owed to the Advisor may reduce future distributions. • The payment of fees and expenses will reduce the funds available for investment, the net income generated, and the net asset value of the shares.

Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objective, risks charges, expenses and the other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) click here or call 800.820.0888.

Investing involves risk, including the possible loss of principal.

Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, and GS GAMMA Advisors.

© Guggenheim Investments. All rights reserved.

Research our firm with FINRA Broker Check.

• Not FDIC Insured • No Bank Guarantee • May Lose Value

This website is directed to and intended for use by citizens or residents of the United States of America only. The material provided on this website is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation. Investing involves risk, including the possible loss of principal.