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”) increased its distribution rates for all share classes, effective as of January 1, 2023.
The annualized distribution rate for Class I, the Fund’s largest share class, increased to 7.29% of the NAV per share of $24.12, as of December 31, 2022, representing a 10% increase to the distribution rate for Class I. Other share classes may be available at certain intermediaries. More information regarding the distribution rate increase can be found in the Form 8-K filing dated as of December 8, 2022.
Over the past twelve months, the annualized distribution rate of the Fund’s Class I shares rose more than 26%, from $1.39 per share to $1.76 per share.
CION co-CEO Michael A. Reisner noted, “We believe that the performance of the Fund throughout the volatility experienced during 2022 is a testament to the Fund’s dynamic allocation process, defensive positioning, and disciplined investment approach.”
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 advisor’s extensive operational resources, infrastructure and origination network. The Fund is currently distributed through a broad universe of RIAs, independent broker-dealers, and wirehouses.
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