Gold bars to be exempt from tariffs, White House clarifies
The company’s income statement shows consistent earnings performance:
Forward Outlook and Investment Thesis
Looking ahead, Fidus aims to continue its disciplined growth strategy while maintaining focus on capital preservation. Management has emphasized the portfolio’s resilience and ability to weather economic uncertainties, a claim supported by the company’s performance through various market cycles.
The investment thesis for Fidus centers on five key pillars: proven investment track record, experienced management team, established deal origination network, disciplined investment process, and attractive dividend yield with NAV upside potential.
The company summarizes its investment case as follows:
During Fidus’ Q4 2024 earnings call, CEO Ed Ross expressed confidence in the company’s strategic direction, noting a 7.5% compound annual growth rate in the investment portfolio. He emphasized the portfolio’s resilience and reiterated the company’s commitment to disciplined growth.
While the lower middle market continues to offer attractive investment opportunities, Fidus remains mindful of economic uncertainties, potential tariff impacts, and interest rate fluctuations that could affect portfolio companies. Nevertheless, the company’s focus on stable, cash-flow generating businesses positions it to navigate potential challenges effectively.
Full presentation:
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