TTO » Topics » Investment Income:

This excerpt taken from the TTO 10-Q filed Apr 8, 2009.
Investment Income: Investment income decreased $21,834 for the three months ended February 28, 2009 as compared to the three months ended February 29, 2008; however, total distributions from investments increased $99,056 in comparison to the prior fiscal year. The decrease in investment income is generally due to less interest income received from debt investments subsequent to the VantaCore debt redemption. The increase in total distributions from investments is attributable to follow-on investments and distribution increases from several of our portfolio companies.

The weighted average yield (to cost) on our investment portfolio (excluding short-term investments) as of February 28, 2009 was 7.8 percent as compared to 8.8 percent at February 29, 2008. The decrease in the weighted average yield to cost is related to slightly lower yields on securities received from our two realization events last fiscal year, as well as Quest’s non-payment of a distribution during the current quarter.

These excerpts taken from the TTO 10-K filed Feb 12, 2009.
Investment Income: Investment income decreased $90,991 for the year ended November 30, 2008 as compared to November 30, 2007; however, total distributions from investments increased $3,168,089 in comparison to the prior fiscal year. The decrease in investment income is generally due to the reclassification of investment income and return of capital based on the 2007 tax reporting information we received from the individual portfolio companies after November 30, 2007 (as described in Note 2D to the financial statements). The increase in total distributions from investments is attributable to follow-on investments and distribution increases during the year from several of our portfolio companies.

The weighted average yield (to cost) on our investment portfolio (excluding short-term investments) as of November 30, 2008 was 8.0 percent as compared to 8.8 percent at November 30, 2007. The decrease in the weighted average yield to cost is related to slightly lower yields on securities received from our two realization events this year as described above, as well as Quest’s non-payment of a distribution during the quarter ended November 30, 2008.

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Investment Income: Investment income decreased $90,991 for the year ended
November 30, 2008 as compared to November 30, 2007; however, total distributions
from investments increased $3,168,089 in comparison to the
prior fiscal year. The decrease in investment income is generally due to
the reclassification of investment income and return of capital based on the
2007 tax reporting information we received from the individual portfolio
companies after November 30, 2007 (as described in Note 2D to the financial
statements). The increase in total distributions from investments is
attributable to follow-on investments and distribution increases during the year
from several of our portfolio companies.


The weighted average yield (to cost) on
our investment portfolio (excluding short-term investments) as of November 30,
2008 was 8.0 percent as compared to 8.8 percent at November 30, 2007. The
decrease in the weighted average yield to cost is related to slightly lower
yields on securities received from our two realization events this year as
described above, as well as Quest’s non-payment of a distribution during the
quarter ended November 30, 2008.


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This excerpt taken from the TTO 10-Q filed Oct 9, 2008.
Investment Income: Investment income totaled $446,736 and $2,298,546 for the three and nine months ended August 31, 2008, respectively, a decrease of $355,938 and an increase of $558,381, respectively, as compared to the three and nine months ended August 31, 2007. The quarter-over-quarter decrease is primarily related to an increase in the portion of distributions characterized as return of capital during the period and reclassification of the amount of investment income and return of capital recognized based on the 2007 tax reporting information received from the individual portfolio companies (see Note 2D to the financial statements for additional information). The year-over-year increase is primarily related to full investment of the portfolio and related distribution increases from the portfolio companies. The weighted average yield (to cost) on our investment portfolio (excluding short-term investments) as of August 31, 2008 was 8.8 percent as compared to 8.7 percent at August 31, 2007.


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