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Ares Strategic Income Fund Leverage Climbs to 1.24x After Q3 Redemption Payout
Ares Strategic Income Fund reported debt-to-equity leverage of 1.24 times at September 30, up from 1.15 times in August, AltsWire reports. Aggregate NAV declined from about $10.4 billion to $9.9 billion following its third-quarter repurchases, while NAV per share moved from $26.74 to $26.69.
Investors had requested redemption of 13.1% of shares against a 5% quarterly cap. The fund said it would fulfill 38.2% of requested amounts, approximately $515 million at the August valuation. September debt outstanding reached about $12.3 billion. Class I shares nevertheless recorded a 0.61% monthly total return, reflecting income partly offset by unrealized portfolio losses, according to Ares.
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