NEW YORK--(BUSINESS WIRE)--Ares Dynamic Credit Allocation Fund, Inc. (the “Fund”) (NYSE:ARDC) announced that the Fund’s non-fundamental investment policy with respect to investments in collateralized loan obligations (“CLOs”) has been amended to read as follows: “Under normal market conditions, the Fund will not invest more than (i) 30% of its Managed Assets in securities issued by entities commonly referred to as CLOs (“CLO Securities”) and other asset-backed securities, or (ii) more than 7.5%