Beneficial Ownership Report - Form SC 13G - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Economic News
Newswires RSS Get our newsletter
Order Prints
November 12, 2024 Newswires
Share
Share
Post
Email

Beneficial Ownership Report – Form SC 13G

U.S. Markets via PUBT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
CION ARES DIVERSIFIED CREDIT FUND
(Name of Issuer)
Mandatory Redeemable Preferred Shares
(Title of Class of Securities)
17260G2@1 (Series A)
17260G3@0 (Series B)
17260G4@9 (Series C)
17260G8@5 (Series G)
17260G3#8 (Series I)
17260G4#7 (Series J)
(CUSIP Number)
September 30, 2024
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☑ Rule 13d-1(b)
☐ Rule 13d-1(c)
☐ Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
1
NAMES OF REPORTING PERSON
Sun Life Assurance Company of Canada
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)☐
(b)☐
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
1,920,000
6
SHARED VOTING POWER
0
7
SOLE DISPOSITIVE POWER
1,920,000
8
SHARED DISPOSITIVE POWER
0
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,920,000
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
☐
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.23%
12
TYPE OF REPORTING PERSON
FI, IC, CO
1
NAMES OF REPORTING PERSON
Sun Life Financial Inc.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)☐
(b)☐
3
SEC USE ONLY
4
CITIZENSHIP OR PLACE OF ORGANIZATION
Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
0
6
SHARED VOTING POWER
1,920,000
7
SOLE DISPOSITIVE POWER
0
8
SHARED DISPOSITIVE POWER
1,920,000
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,920,000
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
☐
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.23%
12
TYPE OF REPORTING PERSON
FI, HC, CO
Item 1.
(a)
Name of Issuer:
CION Ares Diversified Credit Fund
(b)
Address of Issuer's Principal Executive Offices:
100 Park Avenue
25th Floor
New York, New York 10017
Item 2.
(a)
(i)
(ii)
Name of Persons Filing:
Sun Life Assurance Company of Canada ("SLA")
Sun Life Financial Inc. ("SLF")
(b)
Address of Principal Business Office or, if none, Residence :
SLA and SLF:
One York Street
Toronto, Ontario, Canada M5J 0B6
(c)
Citizenship or Place of Organization:
SLA and SLF: Canada
(d)
Title of Class of Securities:
Mandatory Redeemable Preferred Shares
(e)
CUSIP Number:

17260G2@1 (Series A)
17260G3@0 (Series B)
17260G4@9 (Series C)
17260G8@5 (Series G)
17260G3#8 (Series I)
17260G4#7 (Series J)
Item 3.
If this statement is filed pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c),
check whether the person filing is a:
(a)
[ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
[ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
[ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
[ ] Investment company registered under Section 8 of the Investment
Company Act of 1940 (U.S.C. 80a-8);
(e)
[ ] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f)
[ ] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(g)
[X] A parent holding company or control person in accordance with
Section 240.13d-1(b)(1)(ii)(G);
(h)
[ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i)
[ ] A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act
of 1940 (15 U.S.C. 80a-3);
(j)
[X ] A non-U.S. institution in accordance with Section 240.13d-1(b)(1) (ii)(J).
(k)
[ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(K).
If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Insurance Company
Item 4. Ownership:
Provide the following information regarding the aggregate number and percentage of the class of securities of the Issuer identified in Item 1.
(a)
Amount beneficially owned:
(i) SLA: 1,920,000
(ii) SLF: 1,920,000
(b)
Percent of class:
(i) SLA: 6.23%
(ii) SLF: 6.23%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
(1) SLA: 1,920,000
(2) SLF: 0
(ii) Shared power to vote or direct the vote:
(1) SLA: 0
(2) SLF: 1,920,000
(iii) Sole power to dispose or direct the disposition of:
(1) SLA: 1,920,000
(2) SLF: 0
(iv) Shared power to dispose or to direct the disposition of:
(1) SLA: 0
(2) SLF: 1,920,000
Item 5.
Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6.
Ownership of More than Five Percent on Behalf of Another Person:
Not Applicable
Item 7.
Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company:
Not Applicable
Item 8.
Identification and Classification of Members of the Group:
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certification:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to insurance companies in Canada is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institutions. I also undertake to furnish the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.
SIGNATURES
The undersigned certify, after reasonable inquiry and to the best knowledge and belief of the undersigned, that the information set forth in this Statement is true, complete and correct. The undersigned agree to the filing of this single Statement on Schedule 13G in accordance with Rule 13d-1(k)(1).
Sun Life Assurance Company of Canada
Date: November 12, 2024
By:
/s/ Randolph B. Brown
Name: Randolph B. Brown
Title: Authorized Signatory
By: /s/ Brett W. Pacific
Date: November 12, 2024 Name: Brett W. Pacific
Title: Authorized Signatory
Sun Life Financial Inc.
Date: November 12, 2024 By: /s/ Randolph B. Brown
Name: Randolph B. Brown
Title: Authorized Signatory
Date: November 12, 2024 By: /s/ Brett W. Pacific
Name: Brett W. Pacific
Title: Authorized Signatory

EXHIBIT 1
WHEREAS, in accordance with Rule 13d-1(k)(1) under the Securities and Exchange Act of 1934 (the "Act"), only one joint Statement and any amendments thereto need to be filed whenever one or more persons are required to file such a Statement or any amendments thereto pursuant to Section 13(d) of the Act with respect to the same securities, provided that said persons agree in writing that such Statement or amendments thereto is filed on behalf of each of them;
NOW, THEREFORE, the parties hereto agree as follows:
Sun Life Assurance Company of Canada and Sun Life Financial Inc. do hereby agree, in accordance with Rule 13d-1(k)(1) under the Act, to file a Statement on Schedule 13G relating to their ownership of the securities of the Issuer, and do hereby further agree that said Statement on Schedule 13G shall be filed on behalf of each of them.
Sun Life Assurance Company of Canada
Date: November 12, 2024
By:
/s/ Randolph B. Brown
Name: Randolph B. Brown
Title: Authorized Signatory
By: /s/ Brett W. Pacific
Date: November 12, 2024 Name: Brett W. Pacific
Title: Authorized Signatory
Sun Life Financial Inc.
Date: November 12, 2024 By: /s/ Randolph B. Brown
Name: Randolph B. Brown
Title: Authorized Signatory
Date: November 12, 2024 By: /s/ Brett W. Pacific
Name: Brett W. Pacific
Title: Authorized Signatory

Attachments

  • Original document
  • Permalink

Disclaimer

Sun Life Financial Inc. published this content on November 12, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 12, 2024 at 15:09:22.940.

Older

Philly's rowhouse fire season is coming soon. Here's what renters insurance can — and can't — do for you

Newer

American workforce burnout reaches tipping point

Advisor News

  • Strong underwriting: what it means for insurers and advisors
  • Retirement is increasingly defined by a secure income stream
  • Addressing the ‘menopause tax:’ A guide for advisors with female clients
  • Alternative investments in 401(k)s: What advisors must know
  • The modern advisor: Merging income, insurance, and investments
More Advisor News

Annuity News

  • Ameritas settles with Navy vet in lawsuit over disputed annuity sale
  • NAIC annuity guidance updates divide insurance and advisory groups
  • Retirement is increasingly defined by a secure income stream
  • Beyond the S&P 500: The case for RILA diversification
  • Globe Life Inc. (NYSE: GL) Making Surprising Moves in Monday Session
More Annuity News

Health/Employee Benefits News

  • SSM HEALTH, SAINT LOUIS UNIVERSITY PARTNER ON RN-TO-BSN PROGRAM
  • 10 STATES WITH THE LEAST COMPETITIVE HEALTH INSURANCE MARKETS
  • MEDICAID MENTAL HEALTH AND SUBSTANCE USE: EXPANSION TRENDS AND THE FISCAL PRESSURE AHEAD
  • NCPA ENDORSES REINTRODUCED PATIENTS BEFORE MONOPOLIES ACT
  • MEDICARE BIRTHDAY RULE AND NEW ENROLLMENT PROTECTIONS NOW IN EFFECT
More Health/Employee Benefits News

Life Insurance News

  • 5 steps to take before selling your insurance agency
  • U-Haul Holding Company Schedules Fourth Quarter Fiscal Year End 2026 Financial Results Release and Investor Webcast
  • New Empathy and LIMRA Research: The Overlooked Opportunity to Engage the Next Generation After an Insurance Payout
  • Symetra Names Jeff Sealey Vice President, Stop Loss Captives
  • 3 ways AI can help close the gap for women’s insurance coverage
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Why Blend in When You Can Make a Splash?
Pacific Life’s registered index-linked annuity offers what many love about RILAs—plus more!

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Bring a Real FIA Case. Leave Ready to Close.
A practical working session for agents who want a clearer, repeatable sales process.

Discipline Over Headline Rates
Discover a disciplined strategy built for consistency, transparency, and long-term value.

Inside the Evolution of Index-Linked Investing
Hear from top issuers and allocators driving growth in index-linked solutions.

Press Releases

  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
  • ePIC Services Company Joins wealth.com on Featured Panel at PEAK Brokerage Services’ SPARK! Event, Signaling a Shift in How Advisors Deliver Estate and Legacy Planning
  • Hexure Offers Real-Time Case Status Visibility and Enhanced Post-Issue Servicing in FireLight Through Expanded DTCC Partnership
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet