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.
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