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TICC Capital: Lower Fees For Higher Yields In 2014?

I recently finished a report on TICC Capital (NASDAQ:TICC) with updated pricing and projections using the updated fees paid the Investment Advisor which will be much lower for 2014. I believe this is not reflected in the current analyst EPS projections and as rates begin to rise this will become a large driver of expense reduction for the company and ultimately increase returns to shareholders starting this year. This article will explain what this could mean to investors as yields rise along with the general interest rate sensitivity of TICC's investments and borrowings and the combined impact to earnings and investor returns.

Investment Advisor Fees

As an externally managed BDC, TICC is required to pay a base management...

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