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CLASS I CADUX

CION Ares Diversified Credit Fund

Daily Class I Share Nav*

$25.23

Current Distribution Rate**

9.23% based on daily NAV

About the Fund

CION Ares Diversified Credit Fund (CADC) is a continuously offered, diversified, unlisted 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 materials below must be preceded or accompanied by a prospectus. By proceeding, you acknowledge that you have received and reviewed the prospectus. If not, a prospectus can be obtained here. View the risk factors.

Get to Know CADC

Directly managed by CION Ares Management

Dynamically allocates across the full spectrum of credit assets

Globally diversified with an emphasis on U.S. and Western Europe

Floating rate focus to hedge against inflation and rising rates

Performance

As of February 27, 2024

MTD
0.72%
YTD
1.47%
TTM
12.39%
SINCE INCEPTION
(Annualized)
6.48%
SINCE INCEPTION
(Cumulative)
51.65%

Returns include reinvestment of distributions and reflect fund expenses. The estimated expense ratio is 3.63% when excluding interest payments on borrowed funds of 1.84%. Expense ratios are annualized and calculated as a percentage of estimated average net assets. Share values will fluctuate, therefore if repurchased, they may be worth more or less than their original cost. Past performance is not indicative of future results.

CADUX Growth of $10K Since Inception
<strong>CADUX Growth of $10K</strong> Since Inception

This graph illustrates the performance of a hypothetical $10,000 investment made in this Fund from the inception date of the product. This is represented as the change in total return at monthly intervals. Total return is a measure of the change in NAV including reinvestment of all distributions and is presented on a net basis reflecting the deduction of fund expenses and applicable fees with expense support provided by CION Ares Management (CAM). The performance quoted represents past performance, is no guarantee of future results and may not provide an adequate basis for evaluating the performance of the Fund over varying market conditions or economic cycles. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

Historical Data

Filter by Date:

Percentage and dollar changes represent the increase or decrease in the NAV from the preceding trading day. Past performance is not indicative of future results.

Fund Facts

As of January 31, 2024

CLASS I INCEPTION7/12/2017
TOTAL MANAGED ASSETS$4.5B
TOTAL ISSUERS693
DISTRIBUTIONS***Monthly
CLASS I SHARPE RATIO (Annualized)1.08
CLASS I STANDARD DEVIATION3.81%

Portfolio Characteristics

As of January 31, 2024

Fixed vs. Floating Rate

Fixed13.0%

Floating Rate87.0%

Excludes cash, other net assets and equity instruments.

Allocation by Asset Type

U.S. Direct Lending51.2%

Syndicated Loans21.3%

European Direct Lending11.1%

High Yield Bonds9.6%

CLO Equity3.7%

Private Asset-Backed2.0%

Opportunistic1.7%

CLO Debt1.5%

Real Estate Debt0.2%

Cash-2.3%

Allocation by Geography

United States76.1%

Broader Europe10.0%

Broader North America8.7%

United Kingdom6.4%

Other0.7%

Australia0.2%

Broader Asia0.0%

Cash-2.3%

Top 10 Holdings % of Portfolio

Kaseya 1.1%

Mimecast 1.0%

Nielsen 1.0%

High Street Insurance Partners 1.0%

DigiCert 0.9%

TurnPoint Services 0.9%

eCapital 0.9%

Global Medical Response 0.8%

Osmose Utilities Services, Inc. 0.8%

RSK Group Limited 0.8%

Allocation by Industry % of Portfolio

Software & Services 21.1%

Commercial & Professional Services 9.6%

Financial Services 9.2%

Health Care Equipment & Services 8.9%

Capital Goods 7.8%

Consumer Services 6.9%

Structured Products 6.6%

Insurance 5.8%

Other 26.4%

Cash -2.3%

Holdings and allocations, unless otherwise indicated, are based on the total portfolio and subject to change without notice. Data shown is for informational purposes only and not a recommendation to buy or sell any security.

Management
Mitch Goldstein

Partner, Co-Head of Credit Group, Ares Management

Years of Experience: 25

Greg Margolies

Partner, Ares Management

Years of Experience: 31

Michael Smith

Partner, Co-Head of Credit Group, Ares Management

Years of Experience: 28

Mark Gatto

Co-CEO of CION Investments

Years of Experience: 19

Michael A. Reisner

Co-CEO of CION Investments

Years of Experience: 19

Allocation Committee
Keith Ashton

Partner, Portfolio Manager
Alternative Credit
Ares Management

Samantha Milner

Partner, Portfolio Manager
U.S. Liquid Credit
Ares Management

Kipp deVeer

Partner, Head of Credit Group
Ares Management

Scott Graves

Partner, Head & Portfolio Manager
Special Opportunities
Ares Management

Bryan Donahoe

Partner, Head of Real Estate Debt
Ares Management

Boris Okuliar

Co-Head, Global Liquid Credit
Portfolio Manager, European Liquid Credit
Ares Management

Blair Jacobson

Partner, Co-Head of European Credit
Ares Management

Kevin Alexander

Partner
Alternative Credit
Ares Management

David Sachs

Partner, Strategy & Relationship Management
Ares Management

Kort Schnabel

Partner, Portfolio Manager
U.S. Direct Lending
Ares Management

Michael Schechter

Partner
Head of Credit Trading
Ares Management

CION Ares Diversified Credit Fund Materials

Prospectus Class U-2

Download

Prospectus Class U

Download

Prospectus Class W

Download

Statement of Additional Information (Class A, C, I, L, U, U-2 & W)

Download

Prospectus Class L

Download

Prospectus Class I

Download

Prospectus Class A & C

Download

Fact Sheet Class U-2

Download

Fact Sheet Class U

Download

Fact Sheet Class L

Download

Fact Sheet Class C

Download

Fact Sheet Class A

Download

Fact Sheet Class W

Download

Fact Sheet Class I

Download

Investing in Your Daily Life

Download

Investor Presentation

Download

Investor Brochure

Download

Fund Features Sheet

Download

Prospectus

View

Subscription Agreement – Additional Purchase

Download

Subscription Agreement

Download

January 2024

Download

December 2023

Download

November 2023

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October 2023

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September 2023

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August 2023

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July 2023

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June 2023

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May 2023

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April 2023

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March 2023

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February 2023

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January 2023

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December 2022

Download

November 2022

Download

October 2022

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September 2022

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August 2022

Download

July 2022

Download

2024 CADC Share Repurchase Schedule

Download

CADC Repurchase Offer – Q4 2023

Download

Semi-Annual Report – June 2023

Download

Annual Report – December 2022

Download

Semi-Annual Report- June 2022

Download

Annual Report – December 2021

Download

Semi-Annual Report – June 2021

Download

Annual Report – December 2020

Download

Semi-Annual Report – June 2020

Download

Annual Report – December 2019

Download

Semi-Annual Report – April 2019

Download

Annual Report – October 2018

Download

Q3 2023 Portfolio Holdings

Download

Q1 2023 Portfolio Holdings

Download

Q3 2022 Portfolio Holdings

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Q1 2022 Portfolio Holdings

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Q3 2021 Portfolio Holdings

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Q1 2021 Portfolio Holdings

Download
Date FiledTypeDescription
February 14, 2024SC 13G/A
An amendment to the SC 13G filing
Download
February 13, 2024SC 13G/A
An amendment to the SC 13G filing
Download
February 13, 2024SC 13G/A
An amendment to the SC 13G filing
Download
February 09, 2024SC 13G/A
An amendment to the SC 13G filing
Download
February 08, 2024SC 13G/A
An amendment to the SC 13G filing
Download
February 07, 202440-APP/A
40-APP/A
Download
January 04, 20243
Initial filing by director officer or owner of more than ten percent
Download
December 21, 2023424B3
Form of prospectus reflecting facts events constituting substantive change from last form
Download
December 08, 2023N-23C3A
N-23C3A
Download
November 22, 202340-17G
40-17G
Download
September 29, 20238-K
Report of unscheduled material events or corporate event
Download
September 08, 2023N-23C3A
N-23C3A
Download
September 07, 2023SC 13G/A
An amendment to the SC 13G filing
Download
September 01, 2023N-CSRS
N-CSRS
Download
August 17, 2023N-PX
August 07, 2023CORRESP
CORRESP
Download
July 12, 202340-APP
40-APP
Download
June 30, 2023SC 13G
A statement of beneficial ownership of common stock by certain persons
Download
June 16, 2023SC 13G
A statement of beneficial ownership of common stock by certain persons
Download
June 13, 2023D
Notice of Exempt Offering of Securities
Download
June 13, 20238-K
Report of unscheduled material events or corporate event
Download
June 09, 2023N-23C3A
N-23C3A
Download
June 05, 20234
Statement of changes in beneficial ownership of securities
Download
June 05, 20234
Statement of changes in beneficial ownership of securities
Download
June 05, 2023SC 13G/A
An amendment to the SC 13G filing
Download
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CION Ares Diversified Credit Fund is only available through participating Broker/Dealers and Registered Investment Advisors. If you are interested in learning whether alternative investments are suitable for your investment needs, please contact your financial professional.

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Learn More About Ares Management

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800.435.5697 sales@cioninvestments.com