Ares Dynamic Credit Allocation Fund:ARDC

    Manage Alerts

    Overview

    As of 12/7/2021

     Share
    Price
    NAVPremium/
    Discount
    Current$15.84$16.56-4.35%
    52 Wk Avg$15.57$16.54-5.89%
    52 Wk High$16.66$16.82-0.90%
    52 Wk Low$13.71$16.01-14.04%
    Regular Distribution TypeIncome Only
    Distribution Rate7.39%
    Distribution Amount$0.0975
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund normally invests at least 80% of Managed Assets in (i) Senior Loans and investments with similar economic characteristics (such as second lien loans and unsecured loans) and (ii) Corporate Bonds. The Fund expects initially that almost all of the Senior Loans and Corporate Bonds in which it will invest will be rated below investment grade. Corporate Bonds rated below investment grade are often referred to as 'high yield' securities. Under normal market conditions, the Fund expects to invest up to 30% of its Managed Assets in CLOs.

    Capital Structure

    As of 12/7/2021

    Total Investment Exposure:$532.610M
    Total Common Assets:$379.224M
    Common Shares Outstanding:22,900,000
    Leverage

    As of 12/7/2021

    Preferred Share Assets:
    Total Debt (USD): $153.386M
    Regulatory Leverage (USD): $153.386M
    Effective Leverage (USD): $153.386M
    Effective Leverage (%): 28.80%
    Annual Expense Ratios

    As of 10/31/2021

      Per Common Share
    Management Fees1.39%
    Other Expenses:0.76%
    Baseline Expense: N/A
    Interest Expense:0.68%
    Total: 2.83%
    Fund Management

    Fund Sponsor
    Ares Capital Corp

    Portfolio Managers
    Seth Brufsky, Keith Ashton, Samantha Milner, Charles Arduini

    Basics
    Category: Fixed Income - Taxable-Senior Loans
    Ticker: ARDC
    NAV Ticker: XADCX
    Average Daily Volume (shares): 85,219
    Average Daily Volume (USD): $1.322M
    Inception Date: 11/28/2012
    Inception Share Price: $20.00
    Inception NAV: $19.10
    Tender Offer: No
    Term: No
    Fiscal Year End: October 31
    Third Party Links & Reports

    Distributions

    As of 12/7/2021

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 6/30/2021
    $0.5735
    Annualized Distribution Rate on NAV:
    As of 12/7/2021
    7.07%
    Total Return on NAV (12 months):
    As of 12/7/2021
    13.46%
    Avg. Portfolio Coupon:
    As of 12/7/2021
    7.36%
    Total % Portfolio Effectively Leveraged:
    As of 12/7/2021
    28.80%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 12/8/2021

    PeriodAvg Discount
    6 Month-2.94%
    1 Year-5.89%
    3 Year-10.43%
    5 Year-10.27%
    Z-Score

    As of 12/7/2021

    PeriodZStat
    3 Month-1.96
    6 Month-1.30
    1 Year0.45
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 11/30/2021
    Category: Morningstar US CEF Senior Loans

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD19.07%8.87%20.28%7.13%
    20202.51%2.97%0.14%1.12%
    201921.26%12.28%18.13%8.70%
    2018-8.81%-2.46%-7.68%-1.95%
    201717.60%11.36%3.80%5.83%
    201623.85%20.38%24.86%18.27%
    2015-7.38%-7.06%-3.65%-4.65%
    2014-4.71%0.24%-2.59%1.36%
    2013-3.21%9.28%3.18%9.08%
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 11/30/2021
    Category: Morningstar US CEF Senior Loans

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 12/7/2021
    7.36%
    Number of Holdings:
    As of 6/30/2021
    252
    Annual Portfolio Turnover:
    As of 10/31/2021
    127.09%
    Asset Allocation

    As of 6/30/2021 reported by Fund Sponsor

    Top Sectors

    As of 6/30/2021 reported by Fund Sponsor

    Sector%Portfolio
    Corporate (Super Sector)96.83%
    Corporate Bond63.62%
    Asset Backed46.86%
    Securitized (Super Sector)46.86%
    Bank Loan32.94%
    Cash Equivalents (Super Sector)0.49%
    Cash Equivalents0.49%
    Convertible0.27%
    Top Holdings

    As of 6/30/2021 reported by Fund Sponsor

    HoldingValue% Portfolio
    Asset Offset$25.11M6.58%
    Belo Corp. 7.25%$6.96M1.82%
    Powerteam Services LLC 9.03%$6.73M1.76%
    The Williams Companies, Inc. 8.75%$6.15M1.61%
    Trident TPI Holdings Inc 9.25%$6.01M1.57%
    EQT Corporation 0%$5.86M1.54%
    NRG Energy, Inc. 7.25%$5.70M1.49%
    Seagate HDD Cayman 5.75%$5.69M1.49%
    Crown Cork & Seal Company, Inc. 7.38%$5.33M1.40%
    Other Liability$-193.77M-50.76%
    Credit Quality

    As of 6/30/2021 reported by Fund Sponsor

    Maturity Breakdown

    As of 6/30/2021 reported by Fund Sponsor

    Country Allocation

    As of 6/30/2021 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income102.76%
    Others - Fixed Income30.66%
    Ireland - Fixed Income2.73%
    France - Fixed Income2.39%
    Netherlands - Fixed Income1.56%
    Canada - Fixed Income1.22%
    United Kingdom - Fixed Income0.99%
    Germany - Fixed Income0.99%
    Taiwan - Fixed Income0.12%
    Invalid Country - Fixed Income0.00%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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