CION Ares Diversified Credit Fund announced that the company has elected to return additional investment income to shareholders via a special increase to the daily distribution rate for all share classes, effective July 1, 2023.
Class A shares will increase to an annualized distribution rate of 8.91% of net asset value, equal to an 11% increase compared to the previously declared base distribution rate.
Class C shares will increase to an annualized rate of 8.15%, a 12% increase.
Class I shares to an annualized rate of 9.13%, representing a 10% increase.
Class L shares will increase to an annualized rate of 8.6%, equal to 10% increase.
Class U shares will increase to an annualized rate of 8.36%, an 11% increase.
Class U-2 shares will increase to an annualized rate of 8.37%, representing an 11% increase.
Class W shares will increase to 8.62%, a 10% increase.
CION co-CEO Michael Reisner said, “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.”
Cion Ares Diversified Credit Fund 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 via registered investment advisors, independent broker-dealers and wirehouses.
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 currently manages approximately $3.7 billion in assets.