Ares Dynamic Credit Allocation Fund, Inc. Elects Bruce Spector as Class I Director
January 30, 2014 at 02:27 pm EST
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Effective January 29, 2014, the board of directors of Ares Dynamic Credit Allocation Fund, Inc. elected Bruce Spector to serve as a Class I Director of the Fund until the next annual meeting of stockholders and until his successor is elected and qualifies. Mr. Spector also was appointed to the Audit Committee and Nominating and Governance Committee of the company.
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. 
