Are Dynamic Credit Allocation Fund (ARDC)

• Market cap: $342M
• 1 day: -0.40%
• 5 days: -2.73%
• 1 month: -2.16%
• 3 months: -1.13%
• 6 months: 0.67%
• Year to date: 7.48%
• 1 year: 12.33%
• 5 years: -0.40%
• 10 years: -5.92%

About: Ares Dynamic Credit Allocation Fund Inc is a closed-ended, diversified management investment company. The fund's investment objective is to provide an attractive level of total return, through current income and, secondarily, through capital appreciation. The Fund invests in a broad, dynamically managed portfolio of senior secured loans (Senior Loans) made to companies whose debt is rated below investment grade; corporate bonds (Corporate Bonds) that are high yield issues rated below investment grade; other fixed-income instruments of a similar nature that may be represented by derivatives; and securities of collateralized loan obligations (CLOs).

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

20% more first-time investments, than exits

New positions opened: 6 | Existing positions closed: 5

2% more funds holding

Funds holding: 48 [Q2] → 49 (+1) [Q3]

4% less capital invested

Capital invested by funds: $99.8M [Q2] → $95.3M (-$4.47M) [Q3]

2.03% less ownership

Funds ownership: 29.25% [Q2] → 27.22% (-2.03%) [Q3]

19% less repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 16