Cion Ares Diversified Credit Fund (CADUX)
Data through 2000-01-01 · latest filing N-23C3A filed 2000-01-01
Sponsored by CION/Ares. Interval Fund structure focused on private credit.
Interval FundPrivate Credit
- Net assets
- $0.0M
source
Semiannual shareholder report (Form N-CSRS) · filed 2000-01-01 · period 2000-01-01
Available to signed-in readers.
Method Matched text template against the filing
Technical locator
as of 2000-01-01 - NAV / share
- $0.0M
source
Repurchase offer notice (Form N-23c-3) · filed 2000-01-01 · period 2000-01-01
Available to signed-in readers.
Method Matched text template against the filing
Technical locator
Class I · as of 2000-01-01 - Net flows, last qtr
- +0.0% qtr ended 2000-01-01
- Annualized distribution rate
- 0.00% annualized · Class I · as of 2000-01-01
- Trailing 12-month distribution rate
- 0.00% trailing 12 months · Class I · as of 2000-01-01
- Leverage in use
- 0% debt / equity 0.00x · as of 2000-01-01
- Total return, 12m
- +0.00% 2000-01-01 to 2000-01-01 · Class I
i
Source. SEC-derived from filed sub-periods, 2000-01-01 to 2000-01-01
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
Four or more consecutive net declines adding up to 5% or more: a sustained slide in the marks.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
A 2%+ single-month NAV decline, net of distributions, is a one-in-fifty-months event for these funds and usually means a portfolio problem is being recognized in the marks.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
NAV down 3% or more over a quarter, net of distributions: roughly one quarter in eighteen for these funds, a markdown being recognized.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
Private-market NAVs move slowly by construction: a 1%+ single-month decline, net of distributions, happens in about one month in fourteen across these funds and is worth watching.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
NAV has been running at least 2% below its own recent trailing average. Unlike a single sharp markdown, a sustained slide means the pressure on valuations is persistent rather than a one-period event.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
NAV down 5% or more over the trailing year, net of distributions: the fund has been giving back value for a sustained stretch.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
New share sales down 30% or more over the trailing year, as a share of the fund: inflows that used to fund redemptions are thinning.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
PIK is now an elevated share of investment income in absolute terms. A meaningful slice of reported income is accruing on paper rather than arriving as cash.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
Distributions exceed net investment income. The gap is funded from capital (the investor's own money back) or gains, and a stated yield propped up this way is fragile.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
NAV has been running at least 2% below its own recent trailing average. Unlike a single sharp markdown, a sustained slide means the pressure on valuations is persistent rather than a one-period event.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
Redemptions up 25% or more over the trailing year, as a share of the fund.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
The fund's own filing newly flags a portfolio investment as in default or with interest payments in arrears. This is a named credit problem inside the book, and the disclosed size tells you whether it dents NAV or merely trims income.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
PIK is now an elevated share of investment income in absolute terms. A meaningful slice of reported income is accruing on paper rather than arriving as cash.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
Distributions exceed net investment income. The gap is funded from capital (the investor's own money back) or gains, and a stated yield propped up this way is fragile.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Available to signed-in readers.
Source: Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Why it matters and what changed
The fund's own filing newly flags a portfolio investment as in default or with interest payments in arrears. This is a named credit problem inside the book, and the disclosed size tells you whether it dents NAV or merely trims income.
Available to signed-in readers.
Source: Available to signed-in readers.
Historical findings (18)
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
Available to signed-in readers.
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Filed performance history
What moved inside the book.
Filed portfolio-health facts and position changes, each one read from the fund's own report.
Where exit demand met the cap.
Stated cap: 5% of shares/quarter.
Available to signed-in readers.
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
Synthetic exposure: gross notional $0 (0.0% of net assets), as of 2000-01-01. Audit
How to read these financing entries
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Who can invest: No investor qualification is stated in the prospectus.
Management fee: 0.00% of average daily managed assets per year, current as of latest filed disclosure. Research only: not used in a fee distribution.
Filed fee conditions
Available to signed-in readers.
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Class I | 0.00% | Available to signed-in readers.
* |
0.00% | - | 0.00%*Filed label: Expenses, excluding expense support; period 2000-01-01. Available to signed-in readers. SEC source 0001102000-01-014607 |
0.00%*Filed label: Expenses, including expense support; period 2000-01-01. After waiver: yes; interest: included; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. Available to signed-in readers. SEC source 0001102000-01-014607 |
Expense-ratio caution. These are the issuer’s filed figures for the designated analysis class. They are not placed in a fee ranking because denominators and included expenses are not yet normalized across funds. Hover or click * for the filed label, period, components, and SEC source.
Recent filings
| Filed | Form | Accession |
|---|---|---|
| Available to signed-in readers. | ||