Ares Dynamic Credit Allocation Fund, Inc. Announces Demise of Michael H. Diamond
January 15, 2016 at 04:26 pm EST
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Ares Dynamic Credit Allocation Fund, Inc. announced that its director Michael H. Diamond passed away on January 9, 2016. Mr. Diamond was the chairperson of the nominating and governance committee and also served as a member of the audit committee of the company's board of directors.
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. 
