CION Ares Diversified Credit Fund — Cyborg Score 7/10

Strategic Profile

The Fund employs a dynamic asset allocation framework managed by CION Ares Management, LLC and sub-advised by Ares Capital Management II LLC, an affiliate of Ares. The Fund emphasizes senior secured, floating rate, directly originated assets in defensive, non-cyclical, service-based sectors.

Cyborg Score Rationale

The Fund has achieved significant asset growth, with total managed assets reaching approximately $4.5 billion as of December 31, 2023. The distribution rate was increased three times in 2023, concluding the year at 9.23%. The fund benefits from Ares' platform and global credit expertise.

Top Insights

• Total managed assets reached approximately $4.5 billion as of December 31, 2023
• Distribution rate increased three times in 2023 to 9.23%, benefiting from elevated interest rates
• Fund incepted on January 26, 2017, with a history of consistent asset growth
• Fund is distributed through a broad universe of RIAs, independent broker-dealers, and wirehouses

Named Competitors

• Business Development Company — Listed BDC with ~$1.9B AUM

Recent Developments

• (December 2023) Total managed assets reached $4.5 billion with distribution rate at 9.23%
• (April 2023) Distribution rate increased for all share classes in second rate hike of 2023
• (January 2017) Fund incepted with focus on diversified credit investing

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