1WS Credit Income Fund

Data through 2026-06-16 · latest filing N-CSRS filed 2026-07-09

Sponsored by 1WS Capital Advisors / One William Street. Interval Fund structure focused on private credit.

Interval FundPrivate Credit

Sponsor: 1WS Capital Advisors / One William Street
CIK: 0001748680
Liquidity: Quarterly repurchase offers at NAV
Inception: 2019

Net assets: $855.3M

source

Semiannual shareholder report (Form N-CSRS) · filed 2026-07-09 · period 2026-04-30

Statement of Assets and Liabilities fund-level identity (Total assets - Total liabilities [- Preferred Shares] = Net Assets; no per-class breakdown template matched this filer agent)

“Total Assets 1,262,823,699 | Total Liabilities 407,561,633 | Net Assets Attributable to Shareholders $ 855,262,066”

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

https://www.sec.gov/Archives/edgar/data/1748680/000139834426012019/fp0099019-1_ncsrs.htm | Statement of Assets and Liabilities fund-level identity (Total assets - Total liabilities [- Preferred Shares] = Net Assets; no per-class breakdown template matched this filer agent)
NAV / share: $19.17

source

Semiannual shareholder report (Form N-CSRS) · filed 2026-07-09 · period 2026-04-30

Consolidated Statement of Assets and Liabilities, 'NET ASSET VALUE' table: 'Class I: Net assets $447,479,150 Shares outstanding ... 23,345,501 Net Asset Value per Share $19.17 Class A-2: Net assets $407,782,916 Shares outstanding ... 22,103,169 Net Asset Value per Share $18.45' (each class ties its own net-assets/shares-outstanding line). Class I is canonical: listed first in the table and the majority class (52.3% of the Fund's $855,262,066 net assets).

“NET ASSET VALUE Class I: Net assets $ 447,479,150 Shares outstanding ... 23,345,501 Net Asset Value per Share $ 19.17 Class A-2: Net assets $ 407,782,916 Shares outstanding ... 22,103,169 Net Asset Value per Share $ 18.45”

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

https://www.sec.gov/Archives/edgar/data/1748680/000139834426012019/fp0099019-1_ncsrs.htm | Consolidated Statement of Assets and Liabilities, 'NET ASSET VALUE' table: 'Class I: Net assets $447,479,150 Shares outstanding ... 23,345,501 Net Asset Value per Share $19.17 Class A-2: Net assets $407,782,916 Shares outstanding ... 22,103,169 Net Asset Value per Share $18.45' (each class ties its own net-assets/shares-outstanding line). Class I is canonical: listed first in the table and the majority class (52.3% of the Fund's $855,262,066 net assets).
Net flows, last qtr: +6.7%
Distribution coverage (NII): 89%
Leverage in use: Pending
Total return, 12m: Pending

01 / Signals

What changed in the latest filings.

Current findings ordered by severity. Each observation remains traceable to its filed source.

Yellow flag

A dated fee waiver or expense-support arrangement expires within six months.

A dated fee waiver or expense-support arrangement expires within six months. (Rule B2: Waiver / expense-support expiry (dated terms): expiration within 6 months; Notify.)

Why it matters and what changed

A dated fee waiver is now within six months of expiry. If it is not extended, the expense increase lands on shareholders; extensions are usually disclosed via a short 8-K or prospectus supplement, so silence approaching the date is itself information.

First occurrence; no comparative values apply to this rule type.

Source: https://www.sec.gov/Archives/edgar/data/1748680/000139834426012019/fp0099019-1_ncsrs.htm

02 / Trends

How the fund has moved.

Net asset value, total return, capital flows, and distribution coverage across the filing record.

Net capital flows, % of NAV

Distribution coverage

Filed performance

Pending. no cached SEC filing yielded a return with an exact window, basis label, and the audited class scope

Figures are reproduced from filed disclosures with their exact window, class, and stated basis. They are separate from the calculated NAV-plus-distributions index and from manager-source monthly returns.

Monthly performance eligibility

Canonical class: Class I · basis: no qualifying monthly chain · qualifying history: 0 months.

1y: Pending; 3y: Pending; 5y: Pending Manager-published observations remain distinct from SEC-filed facts and publish only after declared-crawler, robots, class, exact-window, and SEC-precedence gates pass.

03 / Portfolio

What moved inside the book.

Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.

Pending

04 / Redemptions

Where exit demand met the cap.

Stated cap: 5% of shares/quarter. The disclosed history shows no rationed period.

Period	Requested	Filled	Cap used	Status
2026-04-08	Not disclosed	100%	100%	filled
2026-01-07	Not disclosed	100%	100%	filled
2025-10-08	Not disclosed	100%	45%	filled
2025-07-09	Not disclosed	100%	23%	filled
2025-04-09	Not disclosed	100%	44%	filled
2025-01-08	Not disclosed	100%	11%	filled
2024-10-09	Not disclosed	100%	33%	filled
2024-07-10	Not disclosed	100%	5%	filled
2024-04-10	Not disclosed	100%	22%	filled
2024-01-12	Not disclosed	100%	39%	filled

05 / Financing

How the balance sheet is funded.

Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.

Synthetic exposure: gross notional $101,696,614 (11.9% of net assets), as of 2026-04-30. Audit

How to read these financing entries

Borrowings are balance-sheet obligations. An undrawn facility is standby liquidity and is not debt until used. Synthetic notional describes market exposure rather than an amount owed, while unconsolidated joint-venture carrying value is shown as context and is not added to fund debt.

06 / Share classes

How the offering is divided.

A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.

Class A-2 47.7%Class I 52.3%

Share of total net assets ($855,262,066) as of 2026-04-30; the hatched band is net assets the filings do not attribute to a captured class.

Class	Terms-based role description	Load	Servicing	Minimum	Assets
Class A-2	Pending	Pending	Pending	Pending	$407,782,9162026-04-30
Class I	Pending	Pending	Pending	Pending	$447,479,1502026-04-30

Current temporary management fee: 1.25% of avg daily gross assets per year, current as of 2026-04-30. Normalized contractual rate: 1.50% — 1.50% per year of daily gross assets without the voluntary reduction.. Temporary reduction: The adviser renewed the voluntary 1.25% rate for one year beginning March 1, 2026; the normalized contractual rate is 1.50%.; stated end 2027-02-28. SEC source 0001398344-26-012019.

Canonical-class fee profile

Class	Management	Incentive	Load	Servicing	Gross expenses	Net expenses
Class I	1.25%temporary; 1.50% normalized	None * None. Explicit filing statement SEC source 0001398344-26-000391	Pending	Pending	3.65%filed basis * Filed label: Ratio of actual expenses to average net assets excluding fee waivers, reimbursements and recoupments; period 2025-10-31. before/excluding fee relief (explicit filing row); waiver state: before / excluding. SEC source 0001398344-26-000391	3.38%filed basis * Filed label: Ratio of actual expenses to average net assets including fee waivers, reimbursements and recoupments; period 2025-10-31. After waiver: yes; interest: not separately stated; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001398344-26-000391

Fee component	Rate	Basis / class	Condition
Management · current temporary rate	1.25%	All classes	Contractual component; Voluntary reduction through February 28, 2027.
Management · normalized contractual rate	1.50%	All classes	Contractual component; Contractual rate without the voluntary reduction.

SEC source 0001398344-26-012019 · SEC source 0001398344-26-000391

Expense-ratio caution. These are the issuer’s filed figures for the designated analysis class. They are not placed in a fee ranking because denominators and included expenses are not yet normalized across funds. Hover or click * for the filed label, period, components, and SEC source.

07 / Sources

The evidence beneath the page.

Filed terms and recent documents remain available without crowding the primary research flow.

Term register (2)

Term	Description	Value	Effective
advisory_fee_schedule	Management Fee under the Advisory Agreement will be calculated at an annual rate of 1.50% of the daily gross assets of the Fund; the Adviser has voluntarily agreed to reduce the Management Fee to 1.25% of the Fund's daily gross assets. The Adviser's board is under no obligation to continue the fee waiver but may continue it at its discretion.	1.25 pct_annual_of_avg_daily_gross_assets	Pending
advisory_fee_schedule	the Fund pays the Adviser a fee at the annualized rate of 1.50% of the daily gross assets of the Fund (the “Management Fee”). For the one-year period beginning on March 1, 2026, the Adviser has voluntarily agreed to reduce the Management Fee to 1.25% of the Fund’s daily gross assets.	1.25 pct_annual_of_avg_daily_gross_assets	2026-03-01

Recent filings

Filed	Form	Accession
2026-07-09	N-CSRS	0001398344-26-012019
2026-06-26	NPORT-P	0001049169-26-001766
2026-06-16	N-23C3A	0001398344-26-010907
2026-04-01	NPORT-P	0001049169-26-000900
2026-03-20	N-23C3A	0001398344-26-005464
2026-01-08	N-CSR	0001398344-26-000391
2025-12-30	NPORT-P	0001049169-25-001145
2025-12-16	N-23C3A	0001398344-25-022551
2025-09-29	NPORT-P	0001049169-25-000376
2025-09-16	N-23C3A	0001398344-25-018151
2025-07-07	N-CSRS	0001398344-25-012839
2025-06-27	NPORT-P	0001752724-25-161832
2025-06-17	N-23C3A	0001398344-25-011878
2025-03-31	NPORT-P	0001752724-25-076577
2025-03-18	N-23C3A	0001398344-25-005694