Cion Ares Diversified Credit Fund

NAV per share ($23.86) is 4.0% below its trailing four-observation average ($24.84) as of 2022-12-31.
NAV per share ($23.86) is 4.0% below its trailing four-observation average ($24.84) as of 2022-12-31. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

NAV per share fell 5.9% from $25.75 to $24.22 (2022-06-30).
NAV per share fell 5.9% from $25.75 to $24.22 (2022-06-30). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Proposal 1 put to shareholder vote: Approval Of The Third Amended And Restated Investment Advisory Agreement B. (2020-01-30)
Proposal 1 put to shareholder vote: Approval Of The Third Amended And Restated Investment Advisory Agreement B.

Figures are reproduced from filed disclosures with their exact window, class, and stated basis. They are separate from the calculated NAV-plus-distributions index and from manager-source monthly returns.

Canonical class: Class I · basis: no qualifying monthly chain · qualifying history: 0 months.

1y: Pending; 3y: Pending; 5y: Pending Manager-published observations remain distinct from SEC-filed facts and publish only after declared-crawler, robots, class, exact-window, and SEC-precedence gates pass.

Pursuant to the Investment Advisory Agreement, the Fund has agreed to pay the Adviser the Management Fee at an annual rate of 1.25% of the average daily value of the Fund's total assets (including any assets attributable to any preferred shares issued or to indebtedness) minus the Fund's liabilities other than liabilities relating to indebtedness -- i.e. net assets. Pursuant to the Investment Sub-Advisory Agreement, the Adviser pays the Sub-Adviser (Ares Capital Management II LLC) 40% of the Management Fee and Incentive Fee actually received, out of the same fee -- not an additional fund-level charge. The Fund also pays a separate quarterly Incentive Fee.