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CION Ares Interval Fund Extends Special Distribution Rate Increase

CION Ares Diversified Credit Fund, a globally diversified interval fund that currently manages approximately $5.1 billion in assets, has elected to extend the expiration date of the special increase to the daily distribution rates for all share classes, as previously announced one year ago and instated on July 1, 2023.

The latest extension will go through Dec. 31, 2024, at which point the fund will again evaluate the special increase.

The interval fund is also maintaining the daily base distribution rates for Class A, Class C, Class I, Class L, Class U, Class U-2, and Class W shares previously announced on Sept. 29, 2023. CION Ares records distributions from net investment income daily and pays distributions monthly to shareholders on such daily record dates.

Effective July 1, 2024:

  • The daily distribution rate to Class A shares will remain at $0.0061419, which reflects 8.91% of the NAV of Class A shares as of May 31, 2024, on an annualized basis.
  • The daily distribution rate to Class C shares will remain at $0.0055918, 8.17% of the NAV of Class C shares as of May 31, on an annualized basis.
  • The daily distribution rate to Class I shares will remain at $0.0063787, 9.15% of the NAV of Class I shares as of May 31 on an annualized basis.
  • The daily distribution rate to Class L shares will remain at $0.0059918, 8.66% of the NAV of Class L shares as of May 31 on an annualized basis.
  • The daily distribution rate to Class U shares will remain at $0.0058303, 8.41% of the NAV of Class U shares as of May 31 on an annualized basis.
  • The daily distribution rate to Class U-2 shares will remain at $0.0058240, 8.42% of the NAV of Class U-2 shares as of May 31 on an annualized basis.
  • The daily distribution rate to Class W shares will remain at $0.0060372, 8.66% of the NAV of Class W shares as of May 31 on an annualized basis.

 

Cion Ares Diversified Credit Fund invests in illiquid and liquid credit investments, seeking superior risk-adjusted returns across various market cycles in a continuously offered interval fund structure. Distributed via registered investment advisers, independent broker-dealers and wirehouses, the fund employs a dynamic asset allocation framework, leveraging the extensive operational resources, infrastructure and origination network of Ares.

CION Ares Diversified Credit Fund is a continuously offered, diversified, non-traded 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.

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