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CION Ares Diversified Credit Fund Continues to Increase Monthly Investor Distributions

CION Ares Diversified Credit Fund declared an increase to its investor distribution rates for all share classes, effective as of Apr. 1, 2023.

As The DI Wire previously reported in September 2022 and January 2023, CION Ares Diversified Credit Fund announced two separate increases to its monthly investor distribution rates.

The daily distribution rate to Class A shares will increase to $0.0053084, which reflects 7.98% of the NAV of Class A shares as of Feb. 28, 2023, on an annualized basis.  The increased declared daily Class A share distribution rate equals a 15.0% increase compared to the previously declared distribution daily amount of $0.0046160 per Class A share.

The daily distribution rate to Class C shares will increase to $0.0047763, which reflects 7.24% of the NAV of Class C shares as of Feb. 28, 2023, on an annualized basis.  The increased declared daily Class C share distribution rate equals a 17.0% increase compared to the previously declared distribution daily amount of $0.0040823 per Class C share.

The daily distribution rate to Class I shares will increase to $0.0055467, which reflects 8.25% of the NAV of Class I shares as of Feb. 28, 2023, on an annualized basis.  The increased declared daily Class I share distribution rate equals a 15.0% increase compared to the previously declared distribution daily amount of $0.0048232 per Class I share.

The daily distribution rate to Class L shares will increase to $0.0051839, which reflects 7.77% of the NAV of Class L shares as of Feb. 28, 2023, on an annualized basis.  The increased declared daily Class L share distribution rate equals a 16.0% increase compared to the previously declared distribution daily amount of $0.0044689 per Class L share.

The daily distribution rate to Class U shares will increase to $0.0050044, which reflects 7.49% of the NAV of Class U shares as of Feb. 28, 2023, on an annualized basis.  The increased declared daily Class U share distribution rate equals a 17.0% increase compared to the previously declared distribution daily amount of $0.0042773 per Class U share.

The daily distribution rate to Class U-2 shares will increase to $0.0050044, which reflects 7.50% of the NAV of Class U-2 shares as of Feb. 28, 2023, on an annualized basis.  The increased declared daily Class U-2 share distribution rate equals a 17.0% increase compared to the previously declared distribution daily amount of $0.0042773 per Class U-2 share.

The daily distribution rate to Class W shares will increase to $0.0052286, which reflects 7.78% of the NAV of Class W shares as of Feb. 28, 2023, on an annualized basis.  The increased declared daily Class W share distribution rate equals a 17.0% increase compared to the previously declared distribution daily amount of $0.0044689 per Class W share.

CION Ares Diversified Credit Fund is a continuously offered, diversified, non-traded closed-end management investment company that is structured as an interval fund. The fund’s investment objective is to provide superior risk-adjusted returns across various market cycles by investing in a globally diversified portfolio of liquid and illiquid credit assets. The fund had total managed assets of $3.7 billion as of Sept. 31, 2022.

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