Apollo Investment Corporation (“AINV” Or the “Company”) for the Fiscal Year Ended March 31, 2020
2020 ANNUAL REPORT Dear Fellow Shareholders, We are pleased to present you with the annual report for Apollo Investment Corporation (“AINV” or the “Company”) for the fiscal year ended March 31, 2020. As we write this year's letter, the world is facing both a significant health and economic crisis due to the outbreak of the novel coronavirus (“COVID-19”, “coronavirus”, or “pandemic”). We hope this letter finds you safe and in good health. In our annual shareholder letters, we typically review our results for the year and provide our outlook for the next fiscal year. In this year’s letter, we will also focus on how AINV was positioned entering this challenging period, and how we are navigating the current environment. First and foremost, on behalf of everyone at AINV, we want to express our appreciation to all those who are working tirelessly to keep us safe and maintain essential services. We offer our deepest sympathy to all those who have been affected by the coronavirus. Our priority continues to be the health and well-being of our stakeholders and the employees of the Company’s Investment Adviser, Apollo Investment Management, L.P., an affiliate of Apollo Global Management, Inc., (together with its affiliates, “Apollo Global”). Apollo has fully transitioned to a remote work environment while ensuring full business continuity. A Review of Fiscal Year 2020 Looking back at fiscal year 2020, we continued to make significant progress executing our de-risking investment strategy to prepare for potential headwinds, if not an economic downturn such as the one we are currently experiencing.
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