CION Ares Diversified Credit Fund Announces Special Distribution Rate Increase
June 13 2023 - 9:20AM
Business Wire
CION Ares Management LLC, a joint venture between affiliates of
CION Investments (“CION”), a leading manager of alternative
investment solutions for individual investors, and Ares Management
Corporation (“Ares”), a leading global alternative investment
manager, announced that the CION Ares Diversified Credit Fund
(“CADC” or the “Fund”) has elected to return additional investment
income to shareholders via a special increase to the daily
distribution rate for all share classes.
The annualized distribution rate for Class I, the Fund’s largest
share class, will increase to 9.13% on NAV, as of May 31, 2023,
representing a 10% increase of the current base distribution rate.
Other share classes may be available at certain intermediaries.
More information regarding the special distribution rate increase
can be found in the Form 8-K filing dated June 13, 2023. The
increase will be effective from July 1, 2023 through June 30,
2024.
CION co-CEO Michael Reisner noted, "The Fund's structure and
investment strategy have brought great value to investors. We
believe the special distribution demonstrates the Fund's careful
management and its ability to complement traditional portfolios in
all market conditions. With alternative investments gaining more
popularity, offering diversification and income generation is
attractive to investors at every stage of their financial
journey.”
CADC invests in illiquid and liquid credit investments, seeking
superior risk-adjusted returns across various market cycles in a
continuously offered interval fund structure. The Fund employs a
dynamic asset allocation framework, leveraging the extensive
operational resources, infrastructure and origination network of
Ares. The Fund is currently distributed through a broad universe of
RIAs, independent broker-dealers, and wirehouses.
ABOUT CION INVESTMENTS
CION Investments is an open source solutions provider and a
leading manager of alternative investment solutions designed to
redefine the way individual investors build their portfolios and
meet their long-term investment goals. CION Investments currently
sponsors, among other products, CION Investment Corporation (NYSE:
CION), a leading publicly listed business development company that
currently manages approximately $1.9 billion in assets, and also
sponsors, through CION Ares Management, the CION Ares Diversified
Credit Fund, a globally diversified interval fund that currently
manages approximately $3.7 billion in assets. CION Investments has
also partnered with the Man Group to create unique, scalable, and
accessible investment solutions, which began with Man Global
Private Markets (Man GPM), Man Group’s private markets
business.
For more information, please visit www.cioninvestments.com.
ABOUT ARES MANAGEMENT CORPORATION
Ares Management Corporation (NYSE: ARES) is a leading
global alternative investment manager offering clients
complementary primary and secondary investment solutions across the
credit, private equity, real estate, and infrastructure asset
classes. We seek to provide flexible capital to support businesses
and create value for our stakeholders and within our communities.
By collaborating across our investment groups, we aim to generate
consistent and attractive investment returns throughout market
cycles. As of March 31, 2023, Ares Management Corporation's global
platform had approximately $360 billion of assets under management,
with over 2,600 employees operating across North America, Europe,
Asia Pacific, and the Middle East. For more information, please
visit www.aresmgmt.com.
FORWARD-LOOKING STATEMENTS
The information in this press release contains forward-looking
statements within the meaning of the federal securities laws. These
forward-looking statements are identified by words such as "may,"
"anticipates," "expects," "intends," "plans," "believes," "seeks,"
"estimates," "would," "could," "should," and variations of these
words and similar expressions, including references to assumptions,
forecasts of future results, shareholder diversification,
institutional research coverage and availability and access to
capital. These statements are not guarantees of future performance
and are subject to risks, uncertainties, and other factors, some of
which are beyond our control and are difficult to predict and could
cause actual results to differ materially from those expressed or
forecasted in the forward-looking statements. CADC undertakes no
obligation to update any forward-looking statements contained
herein to conform the statements to actual results or changes in
its expectations.
This press release is not an offer to sell securities and is not
soliciting an offer to buy securities in any jurisdiction where the
offer or sale is not permitted. An investor should consider CADC's
investment objective, risks, charges, and expenses carefully before
investing.
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Susan Armstrong Head of Marketing E:
sarmstrong@cioninvestments.com
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