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CION Ares Diversified Credit Fund


Daily Class I Share Nav


Current Distribution Rate**

5.37% 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


As of November 24, 2021


Returns include reinvestment of distributions and reflect fund expenses inclusive of recoupment of previously provided expense support. The estimated expense ratio is 3.52%. 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

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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, 2021

CLASS I SHARPE RATIO (Annualized) 1.17

Portfolio Characteristics

As of October 31, 2021

Fixed vs. Floating Rate


Floating Rate92.1%

Excludes cash, other net assets and equity instruments.

Allocation by Asset Type

U.S. Direct Lending42.6%

Syndicated Loans29.8%

European Direct Lending13.0%

High Yield Bonds6.5%

CLO Equity5.8%


CLO Debt1.1%

Private Asset-Backed0.5%

Real Estate Debt0.2%


Allocation by Geography

United States73.5%

United Kingdom12.3%

Broader North America9.7%

Broader Europe6.5%

Broader Asia0.3%




Top 10 Holdings % of Portfolio

Cornerstone OnDemand, Inc. 1.5%

TurnPoint Services 1.2%

CEP V I 5 Midco Limited (aka Mak System) 1.1%

High Street Insurance Partners 1.0%

DigiCert 1.0%

DecoPac, Inc. 1.0%

European Camping Group 0.9%

True Potential Group Limited 0.9%

Ardonagh 0.8%

Medline 0.8%

Allocation by Industry % of Portfolio

Software & Services 22.4%

Consumer Services 8.1%

Health Care Equipment & Services 8.0%

Structured Products 8.0%

Commercial & Professional Services 7.6%

Capital Goods 7.3%

Diversified Financials 7.2%

Insurance 7.1%

Other 26.6%

Cash -2.5%

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.

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

Discover More About Cion Investments

Discover More About Cion Investments

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Learn More About Ares Management

Learn More About Ares Management

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