Ares Dynamic Credit Allocation Fund,Inc. (NYSE:ARDC) Files An 8-K Other EventsItem 8.01 Other Events
Ares Dynamic Credit Allocation Fund,Inc. (the “Fund”) (NYSE: ARDC) has amended its non-fundamental investment policy with respect to investments in collateralized loan obligations (“CLOs”) to read as follows:
This change in investment policy represents an increase in the Fund’s ability to invest in CLO Securities and other asset-backed securities from 30% of Managed Assets to 40% of Managed Assets and an increase in the Fund’s ability to invest in subordinated (or residual) tranches of CLO Securities from 7.5% to 10% of Managed Assets. “Managed Assets” means the total assets of the Fund (including any assets attributable to any preferred shares that may be issued or to indebtedness) minus the Fund’s liabilities other than liabilities relating to indebtedness.