CIM Real Assets & Credit Fund has agreed to a reduction in its incentive fee to 15 percent (from 20 percent), effective immediately.
CIM RACR aims to generate income and appreciation with lower correlation to other income alternatives. The fund has a long-term target allocation of 70 percent credit (both real estate and corporate credit) and 30 percent direct private real assets and deploys capital based on market opportunity. As of October 31, 2023, the fund is overweight in floating-rate real estate debt and floating-rate corporate credit (81.8 percent of the portfolio based on fair value), given the favorable environment to invest in floating-rate credit.
On October 19, 2023, CIM RACR’s board of directors announced a 21 percent increase in the distribution rate. The declared monthly cash dividends represented an annualized distribution rate of 8.5 percent of net asset value per share (as of the close of business on October 12, 2023). In addition, a portion of
