0001752724-20-004175.txt : 20200114
0001752724-20-004175.hdr.sgml : 20200114
20200114114623
ACCESSION NUMBER: 0001752724-20-004175
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20191031
FILED AS OF DATE: 20200114
DATE AS OF CHANGE: 20200114
EFFECTIVENESS DATE: 20200114
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Ares Dynamic Credit Allocation Fund, Inc.
CENTRAL INDEX KEY: 0001515324
IRS NUMBER: 454969053
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-22535
FILM NUMBER: 20525367
BUSINESS ADDRESS:
STREET 1: 2000 AVENUE OF THE STARS
STREET 2: 12TH FLOOR
CITY: LOS ANGELES
STATE: CA
ZIP: 90067
BUSINESS PHONE: (310) 201-4200
MAIL ADDRESS:
STREET 1: 2000 AVENUE OF THE STARS
STREET 2: 12TH FLOOR
CITY: LOS ANGELES
STATE: CA
ZIP: 90067
FORMER COMPANY:
FORMER CONFORMED NAME: Ares Senior Credit Strategies Fund, Inc.
DATE OF NAME CHANGE: 20110314
N-CEN
1
primary_doc.xml
X0201
N-CEN
LIVE
0001515324
XXXXXXXX
811-22535
false
false
false
N-2
Ares Dynamic Credit Allocation Fund, Inc.
811-22535
0001515324
549300BZI16VZUT2N044
2000 AVENUE OF THE STARS
12TH FLOOR
LOS ANGELES
90067
US-CA
US
310-201-4200
State Street Bank and Trust Company
1 Lincoln Street
Boston
02111
617-786-3000
Custody and Accounting Records.
N
N
N
N-2
N
James K. Hunt
000000000
N
Seth J. Brufsky
000000000
Y
Bruce H. Spector
000000000
N
John J. Shaw
000000000
N
David A. Sachs
000000000
Y
Brett A. Byrd
000000000
2000 Avenue of the Stars
12th Floor
Los Angeles
90067
XXXXXX
N
N
N
N
N
N
N
N
Ernst & Young LLP
42
00000000000000000000
N
N
N
N
N
N
Ares Dynamic Credit Allocation Fund, Inc.
549300BZI16VZUT2N044
N
0
0
0
N/A
N
N
N
N
N/A
N/A
N/A
Rule 17a-7 (17 CFR 270.17a-7)
Rule 32a-4 (17 CFR 270.32a-4)
N
N
N
N
Ares Capital Management II LLC
801-72399
000157292
549300Y4244LDVM0VD65
N
State Street Bank and Trust Company
85-05003
571474TGEMMWANRLN572
N
N
N
ICE Data Services, Inc.
13-3668779
Tax ID
N
J.P. Morgan Securities LLC
ZBUT11V806EZRVTWT807
N
IHS Markit Ltd.
549300HLPTRASHS0E726
GB
N
Refinitiv US Holdings Inc.
549300NF240HXJO7N016
N
N
State Street Bank and Trust Company (Edinburgh, GB, Branch)
571474TGEMMWANRLN572
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)
2HI3YI5320L3RW6NJ957
AU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Euroclear Bank
549300OZ46BRLZ8Y6F65
BE
N
Y
Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
State Street Trust Company Canada
549300L71XG2CTQ2V827
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N
Ares Investor Services LLC
8-69194
000166219
N/A
0
BofA Securities, Inc.
8-69787
000283942
549300HN4UKV1E2R3U73
1.8
1.8
Barclays Capital Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
118884974.91
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
66801340.27
Credit Suisse Securities (USA) LLC
8-422
000000816
1V8Y6QCX6YMJ2OELII46
45186279.87
BofA Securities, Inc.
8-69787
000283942
549300HN4UKV1E2R3U73
74107923.02
J.P. Morgan Securities LLC
8-35008
000000079
ZBUT11V806EZRVTWT807
116594010.87
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
72619369.31
Wells Fargo Securities, LLC
8-65876
000126292
VYVVCKR63DVZZN70PB21
35444607.5
Deutsche Bank Securities Inc.
8-17822
000002525
9J6MBOOO7BECTDTUZW19
21745251.72
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
72423495.69
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
27354875.89
785197201.27
N
389386134.51
Common stock
Ares Dynamic Credit Allocation Fund, Inc.
N
N
N
N
N
N
1
3.37
14.48000000
16.42
true
INTERNAL CONTROL RPT
2
NCEN_4031837383728034.txt
Report of Independent Registered Public Accounting Firm
To the Shareholders and
Board of Directors of Ares Dynamic Credit Allocation Fund,
Inc.
In planning and performing our audit of the financial statements
of Ares Dynamic Credit Allocation Fund, Inc. (the Fund) as of
and for the year ended October 31, 2019, in accordance with the
standards of the Public Company Accounting Oversight Board
(United States), we considered the Fund's internal control over
financial reporting, including controls over safeguarding
securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-
CEN, but not for the purpose of expressing an opinion on the
effectiveness of the Fund's internal control over financial
reporting. Accordingly, we express no such opinion.
The management of the Fund is responsible for establishing
and maintaining effective internal control over financial
reporting. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected
benefits and related costs of controls. A fund's internal control
over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for
external purposes in accordance with U.S. generally accepted
accounting principles. A fund's internal control over financial
reporting includes those policies and procedures that (1)
pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions
of the assets of the fund; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of
financial statements in accordance with U.S. generally
accepted accounting principles, and that receipts and
expenditures of the fund are being made only in accordance
with authorizations of management and directors of the fund;
and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use or
disposition of a fund's assets that could have a material effect
on the financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may
deteriorate.
A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of performing
their assigned functions, to prevent or detect misstatements on a
timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial
reporting, such that there is a reasonable possibility that a
material misstatement of the fund's annual or interim financial
statements will not be prevented or detected on a timely basis.
Our consideration of the Fund's internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies
in internal control that might be material weaknesses under
standards established by the Public Company Accounting
Oversight Board (United States). However, we noted no
deficiencies in the Fund's internal control over financial
reporting and its operation, including controls over
safeguarding securities, that we consider to be a material
weakness as defined above as of October 31, 2019.
This report is intended solely for the information and use of
management and the Board of Directors of Ares Dynamic
Credit Allocation Fund, Inc. and the Securities and Exchange
Commission and is not intended to be and should not be used
by anyone other than these specified parties.
/s/ Ernst & Young LLP
Los Angeles, California
December 20, 2019