GBDC & PSEC Quick Updates: Q1 2022
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GBDC Quick Update:
Standard quarter for GBDC but reported just below base case due to lower-than-expected fee and dividend income as well as lower portfolio yield (from 7.1% to 6.9%).
However, this was mostly offset by not paying an incentive fee (due to the generous 8% hurdle) as discussed below.
NAV increased by another 0.6%. Non-accruals increased due t…