be_ixf;ym_202008 d_04; ct_200

CION Ares Diversified Credit Fund

CLASS A CADEX

Daily Class A Share Nav*

$23.46

Current Distribution Rate**

5.94% 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 July 29, 2020

MTD
1.34%WITHOUT SALES CHARGE
-4.49%WITH SALES CHARGE
YTD
-6.47%WITHOUT SALES CHARGE
-11.84%WITH SALES CHARGE
TTM
-4.03%WITHOUT SALES CHARGE
-9.55%WITH SALES CHARGE
SINCE INCEPTION
(Annualized)
3.76%WITHOUT SALES CHARGE
2.02%WITH SALES CHARGE
SINCE INCEPTION
(Cumulative)
13.81%WITHOUT SALES CHARGE
7.27%WITH SALES CHARGE

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 4.81%. The estimated gross expense ratio, which excludes expense support recoupment, is 3.35%. Expense ratios are annualized and calculated as a percentage of estimated average net assets. The sales charge for Class A is up to 5.75%. 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.

CADEX 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 June 30, 2020

CLASS A INCEPTION1/26/2017
TOTAL MANAGED ASSETS~$805M
TOTAL ISSUES394
DISTRIBUTIONS***Monthly
CLASS A SHARPE RATIO (Annualized)0.20
CLASS A STANDARD DEVIATION4.35%

Portfolio Characteristics

As of June 30, 2020

Fixed vs. Floating Rate

Fixed8.7%

Floating Rate91.3%

Excludes cash, other net assets and equity instruments.

Allocation by Asset Type

U.S. Direct Lending38.9%

Syndicated Loans24.0%

European Direct Lending13.8%

CLO Equity8.9%

High Yield Bonds7.5%

CLO Debt6.1%

Private Asset-Backed1.6%

Opportunistic1.2%

Real Estate Debt0.7%

Cash-2.7%

Allocation by Geography

United States69.1%

Broader North America17.0%

United Kingdom12.7%

Broader Europe4.0%

Australia0.0%

Broader Asia0.0%

Other0.0%

Cash-2.7%

Top 10 Holdings % of Portfolio

CEP V I 5 Midco Limited (aka Mak System) 3.3%

True Potential Group Limited 1.5%

Nelipak Holding Company 1.3%

AffiniPay Midco, LLC 1.2%

Bearcat Buyer, Inc. 1.1%

GPM Investments, LLC 1.0%

Capnor Connery Holdco A/S 1.0%

Drilling Info Holdings, Inc. 1.0%

Reddy Ice LLC 0.9%

Foundation Risk Partners, Corp. 0.9%

Allocation by Industry % of Portfolio

Structured Products (CLOs & Private ABS) 17.1%

Information Technology 15.3%

Healthcare 14.0%

Financial 13.3%

Service 11.6%

Food/Tobacco 4.8%

Gaming/Leisure 3.5%

Manufacturing 2.3%

Other 20.8%

Cash -2.7%

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

Sign Up for Our Newsletter

Thanks for visiting.
Before you go...

Interested in receiving
monthly content?

Sign-up for The Signal, a monthly rundown of what moves took place in the credit market and our latest educational and thought leadership content.

CION will use the information you provide to be in touch with you and provide updates. Feel free to change your mind at any time by clicking the unsubscribe link the email you receive. We will never share your information and will treat it with respect.

X

Want more content? Sign-up
for our newsletter, The Signal.

Sign-up now

Contact Us

800.435.5697 sales@cioninvestments.com