Herzfeld Credit Income Fund reported an estimated net asset value of $18.67 per share as of September 30, 2026. The announcement was made by Thomas J. Herzfeld Advisors, the investment adviser to the fund.

Fund Profile and Strategy

Herzfeld Credit Income Fund is a non-diversified, closed-end management investment company incorporated in Maryland in 1992. It operates under the Investment Company Act of 1940. The fund's primary objective is maximizing risk-adjusted total returns, with a secondary goal of generating high current income.

The fund’s principal investment strategy involves credit-related instruments, specifically focusing on:

• Equity tranches of collateralized loan obligations (CLOs)
• Junior debt tranches of CLOs

Adviser Background

Thomas J. Herzfeld Advisors, founded in 1984, is an SEC-registered investment advisor specializing in account management for closed-end funds. The adviser manages the strategic direction and portfolio selection for the Herzfeld Credit Income Fund.

Risk Disclosures

Investors are advised that shares of closed-end funds often trade at a discount to their net asset value. Key risks associated with the fund include:

• Market risk and potential trading discounts
• Risks inherent in CLO investments and related securities
• Dependence on managers of the underlying CLOs
• Exposure to equity market conditions affecting borrower payments
• Non-diversification risks compared to diversified investment companies

Past performance is not indicative of future results. Investors should review the fund’s disclosure documents before investing.

Herzfeld Credit Income Fund (NASDAQ: HERZ) made a monthly distribution of $0.17 per share on September 30, 2026. The payment was declared on May 20, 2026, with an ex-date and record date both set for September 16, 2026.

The fund reported that the entire current distribution was sourced from net investment income. No portion of the payout was derived from net realized capital gains or return of capital. This pattern held true for the cumulative distributions declared in the fiscal year to date, which totaled $0.51 per share.

Distribution details

The following table outlines the specific dates and amounts associated with the September distribution:

Source of distributions

The fund disclosed that all distributions for the current period and the fiscal year to date were covered by net investment income. There were no contributions from short-term or long-term capital gains, nor any return of capital.

What the Numbers Show

A comparison of the fund's performance metrics reveals a divergence between its yield and its total return. As of August 31, 2026, the annualized current distribution rate stood at 10.66% of the net asset value (NAV) of $19.13. However, the average annual total return relative to NAV for the five-year period ending August 31, 2026, was -7.53%. This indicates that while the fund is generating a high current yield, the underlying NAV has declined over the medium term, resulting in a negative total return despite consistent distributions.

Fund profile and risks

Herzfeld Credit Income Fund is a non-diversified, closed-end management investment company incorporated in Maryland. Its primary objective is maximizing risk-adjusted total returns, with a secondary focus on generating high current income. The fund primarily invests in credit-related instruments, including equity and junior debt tranches of collateralized loan obligations (CLOs).

The fund’s adviser is Thomas J. Herzfeld Advisors, Inc., an SEC-registered investment advisor founded in 1984. The fund warns that shares often trade at a discount to NAV and that past performance is not indicative of future results. Investors are advised to consult tax advisors regarding the treatment of distributions, as actual tax reporting may differ from the estimated sources provided.