Ares Dynamic Credit Allocation Fund Declares Initial Monthly Distribution Payable on January 31, 2013
January 11, 2013 at 06:30 pm IST
Share
Ares Dynamic Credit Allocation Fund, Inc. announced the declaration of the initial monthly distribution of the Fund for the period ending January 31, 2013 of $0.117 per common share, payable on January 31, 2013. Based on the Fund's initial public offering price of $20.00 per share, the distribution represents an annualized yield of 7.02% (calculated by annualizing the distribution amount and dividing it by the IPO share price). The ex-date is January 23, 2013 and record date is January 25, 2013.
Ares Dynamic Credit Allocation Fund, Inc. (the Fund) is a closed end, diversified, management investment company. The Fund's investment objective is to seek an attractive risk adjusted level of total return, primarily through current income and secondarily, through capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a broad, dynamically managed portfolio of senior secured loans (Senior Loans) made primarily to companies whose debt is rated below investment grade; corporate bonds (Corporate Bonds) that are primarily high yield issues rated below investment grade; other fixed-income instruments of a similar nature that may be represented by derivatives, and securities issued by entities commonly referred to as collateralized loan obligations (CLOs) and other asset-backed securities. Its investments in CLOs may include investments in subordinated tranches of CLO securities. The Fund's investment adviser is Ares Capital Management II LLC.
ARES DYNAMIC CREDIT ALLOCATION FUND, INC. 
