CION Ares Diversified Credit Fund Reaches Three-Year Milestone and Continues to Demonstrate Strong Performance
A successful track record along with increased demand for differentiated solutions has driven solid growth for the Fund across all channels. CION Ares Management believes this critical milestone positions the Fund for growth moving forward.
NEW YORK, January 28, 2020 (Newswire.com) - CION Investments (CION), a leading manager of alternative investment solutions, today announced that the CION Ares Diversified Credit Fund (CADC) has reached its three-year anniversary and has achieved a 6.9% annualized return since inception with a distribution rate of 5.4% as of Dec. 31, 2019.1
CADC, managed by CION Ares Management, seeks to capitalize on market inefficiencies and relative value opportunities by dynamically allocating a portfolio of directly originated loans, secured floating and fixed-rate syndicated loans, corporate bonds, asset-backed securities, commercial real estate loans and other types of credit instruments. This “best-ideas” strategy was created to directly leverage Ares Management Corporation’s renowned global credit platform and provide institutional-quality asset management in a continuously offered, 1940-Act interval fund structure.
CADC has experienced significant growth since its launch in 2017, having reached $695 million in total managed assets as of year-end, with successful capital raised across wirehouses, registered investment advisers, and independent broker-dealers. With CADC reaching its three-year anniversary, the Fund continues to expand and attract new investors.
The Fund’s focus on senior-secured loans and the ability to be selective across asset classes have created a solution that offers enhanced income, increased portfolio diversification, and reduced correlation to public markets. The unconstrained flexibility within a single portfolio allows the investment team to capture the best relative value across the credit universe and capitalize on episodic market dislocations.
Michael A. Reisner and Mark Gatto, co-CEOs of CION Investments, commented, “The credit markets continue to be an important source of stable income and investors are beginning to value investments that have lower correlations to other assets in their portfolios. Against this backdrop, we believe our strategy, driven by our ability to dynamically allocate capital across credit sectors and geographies, is well situated to seek attractive risk-adjusted returns for our shareholders.”
CADC is a daily-NAV interval fund, whose Class A Share was incepted on Jan. 26, 2017, and trades under the ticker CADEX.
1 Returns include reinvestment of distributions and reflect fund expenses inclusive of expense support which will remain in effect at least until July 31, 2020, and may be subject to reimbursement in the future. The net expense ratio, inclusive of expense support, is 4.30% as of Oct. 31, 2019. The gross expense ratio, without expense support, is 4.03% as of Oct. 31, 2019. Expense ratios are annualized and calculated as a percentage of average net assets. Performance shown here is the A Share Class, which was incepted on Jan. 26, 2017. Return shown does not reflect the sales charge for Class A of 5.75%. Including this charge, returns are 4.8% since inception. 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.
ABOUT CION INVESTMENTS
CION Investments is a leading manager of investment solutions designed to redefine the way individual investors can build their portfolios and help meet their long-term investment goals. With more than 30 years of experience in the alternative asset management industry, CION strives to level the playing field by giving investors direct access to premier asset management historically only available to the largest institutions.
CION currently manages CION Investment Corporation, a leading non-traded BDC with approximately $1.9 billion in assets under management and sponsors, through CION Ares Management, LLC, CION Ares Diversified Credit Fund.
Visit www.cioninvestments.com to learn more.
ABOUT ARES MANAGEMENT CORPORATION
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management’s global platform had $144 billion of assets under management as of Sept. 30, 2019, and employs approximately 1,200 employees in over 20 offices in more than 10 countries.
Please visit www.aresmgmt.com for additional information.
These materials may contain “forward-looking” information that is not purely historical in nature. The forward-looking information contained herein is based upon certain assumptions about future events or conditions and is intended only to illustrate hypothetical results under those assumptions (not all of which will be specified herein). Not all relevant events or conditions may have been considered in developing such assumptions. The success or achievement of various results and objectives is dependent upon a multitude of factors, many of which are beyond the control of the Fund. No representations are made as to the accuracy of such estimates or projections or that such estimates or projections will be realized. Actual events or conditions are unlikely to be consistent with, and may differ materially from, those assumed.
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Source: CION Investments
Categories: Asset Management