Investors give thumbs up to Fifth Street Finance's boosted buyback pace

• The rout in stocks today also includes the BDC sector, but not Fifth Street FInance (FSC +2.1%), which earlier today promised a substantially faster pace of share repurchases next month.
• The team at KBW notes the move should please investors disappointed by the size of previous buyback intentions. "We believe this will send a strong signal to investors that management will listen to their concerns."
• The next step, says KBW, is for the company should extend its fee waiver to all capital, and not just newly-raised equity.