2023 Annual Report
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Apollo Tactical Income Fund Inc.’s (NYSE:AIF) primary investment objective is to seek current income, with a secondary objective of preservation of capital, through a blend of senior loans and high yield corporate bonds.

Apollo Tactical Income Fund Inc. (the "Fund") is a diversified, closed-end management investment company. The Fund’s primary investment objective is to seek current income with a secondary objective of preservation of capital by investing in a portfolio of senior loans, corporate bonds and other credit instruments of varying maturities. The Fund seeks to generate current income and preservation of capital primarily by allocating assets among different types of credit instruments based on absolute and relative value considerations. Under normal market conditions, the Fund invests at least 80% of its managed assets (which includes leverage) in credit instruments and investments with similar economic characteristics.

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The Board of Directors of Apollo Senior Floating Rate Fund Inc. (the “Fund”) sets high standards for the Fund's officers and directors. Implicit in this philosophy is the importance of sound corporate governance. It is the duty of the Board of Directors to serve as a prudent fiduciary for shareholders and to oversee the management of the Fund's business. To fulfill its responsibilities and to discharge its duty, the Board of Directors follows the procedures and standards that are set forth in these guidelines. These guidelines are subject to modification from time to time as the Board of Directors deems appropriate in the best interests of the Fund or as required by applicable laws and regulations.

Board of Directors
Glenn N. Marchak
Director; Audit Committee Chair
Meredith Coffey
DIrector; Nominating and Corporate Governance Committee Chair
Todd J. Slotkin
Lead Independent Director
Elliot Stein, Jr.
Barry Cohen
Interested Director; Chairman of the Board
Committee Charters
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Governance Documents
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Special Stockholder Meetings 

Apollo Senior Floating Rate Fund Inc. (NYSE: AFT) will be holding a Special Meeting of Stockholders virtually on May 28, 2024 at 10:00 am Eastern Time. Stockholders will not be able to attend the Special Meeting in person, however stockholders of record as of the close of business on March 28, 2024 will be able to vote and ask questions during the meeting via a live webcast.

Apollo Tactical Income Fund Inc. (NYSE: AIF) will be holding a Special Meeting of Stockholders virtually on May 28, 2024 at 10:30 am Eastern Time. Stockholders will not be able to attend the Special Meeting in person, however stockholders of record as of the close of business on March 28, 2024 will be able to vote and ask questions during the meeting via a live webcast.

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How to Join the Virtual Annual Meeting

To participate in the Annual Meeting, shareholders must register in advance with Broadridge Financial Solutions, Inc. (“Broadridge”), the Funds’ proxy tabulator.

Shareholders whose shares are registered directly in the shareholder’s name will be asked to submit the name and control number on their proxy card. Shareholders whose shares are held by a broker, bank or other nominee must first obtain a “legal proxy” from the applicable nominee/record holder, who will then provide the shareholder with a new control number.

Once a shareholder has their control number, they may register by submitting their name and control number at The shareholder will then receive an email from Broadridge confirming receipt of their registration request.

Once a shareholder’s registration request has been accepted, they will receive (i) an email containing the event link and dial-in information for the Annual Meeting, and (ii) an email with the password required to access the event link. On the day of the Annual Meeting, shareholders can access the meeting using the event link or dial-in.

Shareholders may vote before or during the Annual Meeting by entering their control number at Only shareholders of the Funds who are present virtually or by proxy will be able to vote at the Annual Meeting.

There will be technicians available to assist with any technical difficulties accessing the Annual Meeting. If you encounter any difficulties before or during the meeting, please call 866-612-8937 (toll free). Technical support will be available starting at 8:00 a.m. Eastern Time on June 9, 2022 and will remain available until the meeting has ended.

The virtual meeting platform is fully supported across browsers (Internet Explorer, Firefox, Chrome, and Safari) and devices (desktops, laptops, tablets, and cell phones) running the most updated version of applicable software and plugins. Participants should ensure that they have a strong WiFi connection wherever they intend to participate in the Annual Meeting. Participants should also give themselves plenty of time to dial-in to the conference call or log in and ensure that they can hear audio prior to the start of the Annual Meeting.

Interested in Learning More?

Contact Our Team

For more information regarding our funds, please call (877) 864-4834 to speak with an Apollo representative, or call your financial advisor.

IR Contact
Elizabeth Besen
9 West 57th Street
New York, NY 10019


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An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. An investment in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment. Therefore, prospective investors should consider carefully the Fund's investment objectives, risks, charges and expenses and should consult with a tax, legal or financial advisor before making any investment decision. Shares of closed-end investment companies frequently trade at a discount from their net asset value.

Senior Loans. Senior loans are usually rated below investment grade and may also be unrated. As a result, the risks associated with senior loans are similar to the risks of below investment grade fixed income instruments and may be considered speculative. Senior loans are subject to a number of risks, including liquidity risk and the risk of non-payment of scheduled interest or principal. There may be less readily available and reliable information about most senior loans than is the case for many other types of securities. As a result, Apollo will rely primarily on its own evaluation of a borrower's credit quality.

Corporate Bonds. The Fund may invest in a wide variety of bonds of varying maturities issued by U.S. and foreign corporations, other business entities, governments and municipalities and other issuers. The Fund's investments in corporate bonds may include, but are not limited to, senior, junior, secured and unsecured bonds, notes and other debt securities, and may be fixed rate, variable rate or floating rate, among other things. Apollo expects most of the corporate bonds in which the Fund invests will be high yield bonds (commonly referred to as "junk" bonds), which may be considered speculative. The market value of a corporate bond generally may be expected to rise and fall inversely with interest rates. The value of intermediate and longer-term corporate bonds normally fluctuates more in response to changes in interest rates than does the value of shorter-term corporate bonds. The market value of a corporate bond also may be affected by investors' perceptions of the creditworthiness of the issuer, the issuer's performance and perceptions of the issuer in the marketplace.

Structured Products. Investments in structured products involve risks, including credit risk and market risk. When the Funds' investments in structured products (such as collateralized debt obligations, collateralized loan obligations and asset-backed securities) are based upon the movement of one or more factors, including currency exchange rates, interest rates, reference bonds (or loans) or stock indices, depending on the factor used and the use of multipliers or deflators, changes in interest rates and movement of any factor may cause significant price fluctuations. Additionally, changes in the reference instrument or security may cause the interest rate on a structured product to be reduced to zero and any further changes in the reference instrument may then reduce the principal amount payable on maturity of the structured product. Structured products may be less liquid than other types of securities and more volatile than the reference instrument or security underlying the product.

Leverage Risk. The Fund intends to utilize leverage and may utilize leverage to the maximum extent permitted by law. The use of leverage to purchase additional securities creates an opportunity for increased common share dividends, but also creates risks for shareholders, including increased variability of the Fund's net income, distributions and/or net asset value in relation to market changes. Leverage is a speculative technique that exposes the Fund to greater risk and increased costs than if it were not implemented. Increases and decreases in the value of the Fund's portfolio will be magnified when the Fund uses leverage.

Additional Risks. The Fund may be subject to additional risks, including, but not limited to, credit risk, risks of investing in below investment grade securities, interest rate risk, and risks of investing in illiquid securities.

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