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CION Ares Diversified Credit Fund

CLASS I CADUX

Daily Class I Share Nav

$24.62

Current Distribution Rate**

5.66% 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 November 24, 2020

MTD
2.84%
YTD
0.10%
TTM
2.31%
SINCE INCEPTION
(Annualized)
5.30%
SINCE INCEPTION
(Cumulative)
19.03%

Returns include reinvestment of distributions and reflect fund expenses inclusive of recoupment of previously provided expense support. The estimated net expense ratio, which includes expense support recoupment, is 3.61%. The estimated gross expense ratio, which excludes expense support recoupment, is 3.10%. 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
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 October 31, 2020

CLASS I INCEPTION7/12/2017
TOTAL MANAGED ASSETS~$1.04B
TOTAL ISSUES451
DISTRIBUTIONS***Monthly
CLASS I SHARPE RATIO (Annualized)0.51
CLASS I STANDARD DEVIATION4.61%

Portfolio Characteristics

As of October 31, 2020

Fixed vs. Floating Rate

Fixed19.8%

Floating Rate80.2%

Excludes cash, other net assets and equity instruments.

Allocation by Asset Type

U.S. Direct Lending35.6%

Syndicated Loans19.6%

High Yield Bonds17.0%

European Direct Lending11.4%

CLO Equity9.3%

CLO Debt3.7%

Private Asset-Backed1.1%

Opportunistic1.1%

Real Estate Debt0.6%

Cash0.7%

Allocation by Geography

United States70.3%

Broader North America15.3%

United Kingdom9.6%

Broader Europe4.1%

Australia0.0%

Broader Asia0.0%

Other0.0%

Cash0.7%

Top 10 Holdings % of Portfolio

CEP V I 5 Midco Limited (aka Mak System) 2.6%

True Potential Group Limited 1.2%

GPM Investments, LLC 1.1%

Sophia, L.P. (aka Ellucian) 1.1%

Nelipak Holding Company Netherlands Treasury B.V. 1.0%

AffiniPay Midco, LLC 0.9%

OHALF 2016-1 0.9%

Bearcat Buyer, Inc. 0.9%

Capnor Connery Holdco A/S 0.8%

Foundation Risk Partners, Corp. 0.8%

Allocation by Industry % of Portfolio

Information Technology 17.6%

Structured Products (CLOs & Private ABS) 14.5%

Financial 11.9%

Healthcare 11.5%

Service 11.0%

Food/Tobacco 4.3%

Gaming/Leisure 3.1%

Energy 2.9%

Other 22.3%

Cash 0.7%

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, Head of Markets, Ares Management

Years of Experience: 31

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

Seth Brufsky

Partner, Co-Head & 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

Jeffrey Kramer

Partner, Portfolio Manager
Alternative Credit
Ares Management

David Sachs

Partner, Strategy & Relationship Management
Ares Management

Kort Schnabel

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

Michael Smith

Partner, Co-Head of Credit Group
Ares Management

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Contact Us

800.435.5697 sales@cioninvestments.com