CIBC Ares Strategic Income Fund

What is Private Credit?

Private credit is a broad, well-established asset class that continues to grow in importance, due to the benefits it can offer investors. It is a diverse space with strategies that range from those focused on capital preservation and income stability, to others with more aggressive total return objectives. Private credit is generally sought out for its enhanced yield or total return potential versus publicly traded fixed income.

Private credit has evolved and can offer a number of potential benefits

  • Portfolio diversification through investments outside public markets
  • Low correlation to traditional asset classes
  • Enhanced returns from active, hands-on management with aligned incentives
  • Long-term investment horizons with a focus on sustainable value creations
  • Lower volatility with valuations based on long-term cash flows
  • Ability to structure portfolio to deliver income, yield, inflation protection and downside protection

Introducing the CIBC Ares Strategic Income Fund

The CIBC Ares Strategic Income Fund (The "Fund") provides Canadian accredited investors with the opportunity to invest in the Ares Strategic Income Fund ("ASIF" or the “Master Fund”), a private credit solution that benefits from Ares Credit Group, a leading and differentiated credit platform.

ASIF seeks to generate current income, while maintaining the potential for capital appreciation and attractive risk-adjusted returns through market cycles. The Master Fund primarily invests in directly originated, senior secured, floating rate loans to U.S. companies1.

ASIF’s accessible structure is designed to leverage the power of the entire Ares credit platform with a core anchor allocation to senior secured directly originated loans to offer investors an income-oriented solution with a focus on downside protection2. The Fund seeks to complement traditional fixed income strategies by providing a yield enhancement opportunity and portfolio diversification throughout changing market and interest rate cycles.

Key fund features

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Focus on income through distributions

  • Core income solutions provides yield enhancement opportunity.
  • Expected monthly distributions2.
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Defensive Portfolio

  • Focus on first lien investments1.
  • Diverse portfolio with limited concentration levels across issuer, industry and sponsor to seek optimal risk-return profile.
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Access to Ares’ experienced credit platform

  • The CIBC Ares Strategic Income Fund is currently the only Canadian Feeder Fund to provide exclusive access to ASIF at an affordable entry point.
  • Opportunity to gain access to ASIF, which is advised by an experienced manager in credit markets.
  • A leader in the direct lending space.
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Beneficial Structure3

  • Monthly Subscriptions.
  • Expected quarterly liquidity.
  • Canadian dollar operating currency. 100% hedged to minimize currency implications.

CIBC Ares Strategic Income Fund - Series F

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The Ares advantage

Ares logo on top of a scenery of a road and trees and lake and on which buildings reflected.
  • Power of a broad and scaled platform enhancing investment capabilities.
  • Robust management team with integrated and collaborative approach.
  • An experience manager in leveraged finance, private credit and secondaries.

20+ year track record of investing through cycles4

#1 Global Fund Manager of the Year5

Ranked #1 Senior Lender in Americas6

Top 6 Global CLO Manager7

A Leading Syndicated Loan Buyer

A Leading Dedicated Alternative Credit Team

For further information about the Ares Strategic Income fund, please visit the Ares Wealth Management Solutions page.

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1The Master Fund seeks to invest primarily in first lien senior secured loans, in addition to second lien senior secured loans, subordinated secured and unsecured loans, subordinated debt, and other types of credit instruments which may include commercial real estate mezzanine loans, real estate mortgages, distressed investments, securitized products, notes, bills, debentures, bank loans, convertible and preferred securities, infrastructure debt and government and municipal obligations and commercial real estate, made to or issues by U.S. middle-market companies. We generally define U.S. middle-market companies as companies with annual net income before interest expense, income tax expense, depreciation and amortization (“EBITDA”) between $10 million and $250 million.

2Monthly distributions are targeted, but not guaranteed. References to “downside protection” or similar language are not guarantees against loss of investment capital or value.

3Features of the CIBC Ares Strategic Income Fund.

4The awards and ratings noted herein may not be representative of any given client’s experience and should not be viewed as indicative of Ares’ past performance or its funds’ future performance including ASIF. Ares has not provided any compensation in connection with obtaining or using these awards. All investments involve risk, including loss of principal.

5Private Debt Investor awarded Ares Management “Global Fund Manager of the Year” for 2022.

6Private Debt Investor awarded Ares Management “Senior Lender of the Year – Americas” in 2022.

7Creditflux, “CLO Manager Ranking by Principal Liabilities” as of March 31, 2023.


Disclaimer:

This document should not be considered predictive of any future market performance. Any information or discussion about the current characteristics of this fund or how the portfolio manager is managing the fund is not a discussion about material investment objectives or strategies, but solely a discussion of the current characteristics or manner of fulfilling the investment objectives and strategies, and is subject to change without notice. You should not act or rely on the information without seeking the advice of a professional. Commissions, trailing commissions, management fees and expenses all may be associated with fund investments.

This document is being provided for informational purposes only and provides general information regarding the CIBC Ares Strategic Income Fund (the “Fund”). CIBC Asset Management Inc. (“CAMI”) is the manager of the Fund. The Fund is a prospectus exempt fund and is not subject to the same regulatory requirements as publicly offered investment funds offered by way of prospectus. This document does not form part of an offering document and does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities of the Fund. Any such offer or solicitation may only be made through, and in accordance with, the terms of the subscription agreement and confidential offering memorandum of the Fund (collectively, the “Offering Documents”), and the constating documents of the Fund. This document is qualified in its entirety to such Offering Documents.

The information in this document is not intended to provide legal, accounting, tax, investment or financial advice and should not be relied on in that regard. We strongly recommend that you consult your investment adviser in order to fully understand all of the important terms of the Fund and before undertaking any investment strategy. An investment in the Fund may not be suitable for all investors. This document does not contain a complete description of the Fund or the risks associated with an investment in the Fund, and is subject to and qualified in its entirety by reference to the Offering Documents and the constating documents of the Fund. Complete information relating to the Fund, including risk factors, is contained in the Offering Documents. The returns of the Fund are not guaranteed, the value of the units of the Fund will change frequently and past performance may not be repeated and is not indicative of future results. The information in this document is subject to change without notice, as such, only the most recent Offering Documents should be relied upon for information on the Fund. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.

®CIBC Asset Management and the CIBC logo are registered trademarks of Canadian Imperial Bank of Commerce (CIBC), used under license.

The material and/or its contents may not be reproduced without the express written consent of CIBC Asset Management Inc.

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