Ares Dynamic Credit Allocation Fund:ARDC

    Manage Alerts

    Overview

    As of 10/23/2020. NAV as of 10/22/2020.

     Share
    Price
    NAVPremium/
    Discount
    Current$12.76$14.88-14.25%
    52 Wk Avg$13.10$15.00-12.83%
    52 Wk High$15.91$17.250.36%
    52 Wk Low$8.10$10.97-33.33%
    Regular Distribution TypeIncome Only
    Distribution Rate9.17%
    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 10/23/2020

    Total Investment Exposure:$464.465M
    Total Common Assets:$340.974M
    Common Shares Outstanding:22,914,939
    Leverage

    As of 10/22/2020

    Preferred Share Assets:
    Total Debt (USD): $123.491M
    Regulatory Leverage (USD): $123.491M
    Effective Leverage (USD): $123.491M
    Effective Leverage (%): 26.59%
    Annual Expense Ratios

    As of 10/31/2019

      Per Common Share
    Management Fees0.24%
    Other Expenses:3.01%
    Baseline Expense: N/A
    Interest Expense:0.19%
    Total: 3.43%
    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): 118,359
    Average Daily Volume (USD): $1.512M
    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 10/23/2020

    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 6/30/2020
    $0.6337
    Annualized Distribution Rate on NAV:
    As of 10/23/2020
    7.86%
    Total Return on NAV (12 months):
    As of 10/23/2020
    -4.48%
    Avg. Portfolio Coupon:
    As of 10/23/2020
    7.41%
    Total % Portfolio Effectively Leveraged:
    As of 10/23/2020
    26.59%

    Pricing Information

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

    As of 10/23/2020

    PeriodAvg Discount
    6 Month-14.57%
    1 Year-12.83%
    3 Year-11.64%
    5 Year-12.01%
    Z-Score

    As of 10/23/2020

    PeriodZStat
    3 Month0.01
    6 Month0.29
    1 Year-0.44
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 9/30/2020
    Category: Morningstar US CEF Senior Loans

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD-11.00%-7.03%-10.54%-4.40%
    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 9/30/2020
    Category: Morningstar US CEF Senior Loans

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 10/22/2020
    7.41%
    Number of Holdings:
    As of 6/30/2020
    241
    Annual Portfolio Turnover:
    As of 10/31/2019
    11.70%
    Average Bond Price:
    As of 6/30/2020
    $93.80
    Asset Allocation

    As of 6/30/2020 reported by Fund Sponsor

    Top Sectors

    As of 6/30/2020 reported by Fund Sponsor

    Sector%Portfolio
    Corporate (Super Sector)70.04%
    Corporate Bond52.24%
    Asset Backed27.93%
    Securitized (Super Sector)27.93%
    Bank Loan17.80%
    Cash Equivalents2.03%
    Cash Equivalents (Super Sector)2.03%
    Top Holdings

    As of 6/30/2020 reported by Fund Sponsor

    HoldingValue% Portfolio
    Belo Corp. 7.25%$6.39M1.39%
    The Williams Companies, Inc. 8.75%$5.93M1.29%
    NRG Energy, Inc. 7.25%$5.80M1.26%
    Hughes Satellite Systems Corporation 7.63%$5.67M1.23%
    AVANTOR INC 9%$5.38M1.17%
    Caesars Entertainment Inc New 7%$5.16M1.12%
    Crown Cork & Seal Company, Inc. 7.38%$5.09M1.11%
    Blue Cube Spinco Inc 9.75%$4.89M1.06%
    Refinitiv US Holdings Inc 8.25%$4.87M1.06%
    CenturyLink, Inc. 8%$4.49M0.98%
    Maturity Breakdown

    As of 6/30/2020 reported by Fund Sponsor

    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.

    EWB-1014244PR-E1119W