Class D

Oaktree Diversified Income Fund Inc

Overview

Seeks to provide current income and attractive total return. Invests primarily in global, high-conviction opportunities across Oaktree’s credit platform in both public and private markets, including high-yield bonds, senior loans, structured credit, emerging markets debt and convertibles, as well as direct lending opportunities which have the potential to increase yield and lower volatility.

Managed by Oaktree Capital Management, a pioneer in credit investing

Follows a relative value approach that seeks to identify the best income opportunities

An investor-friendly vehicle with attractive features

Daily Subscriptions
Quarterly Distributions¹
Quarterly Liquidity²
Annual Form 1099-DIV

Fund’s Liquidity

The Fund is a continuously offered, diversified, unlisted closed-end management investment company that is structured as an “interval fund.”

In order to provide limited liquidity to shareholders, the Fund has adopted a fundamental investment policy to make quarterly offers to repurchase at least 5%¹ of its outstanding common shares at net asset value (NAV). The Fund anticipates a quarterly repurchase target of 10%.¹

Shares repurchased by the Fund are subject to an early withdrawal charge of 2.00% for withdrawals made within one year of an investor’s investment date. There is no guarantee that shareholders will be able to sell all of the shares they desire in a repurchase offer.

For more information, the Fund’s 2024 Repurchase Calendar provides further details.

¹There is no assurance quarterly distributions will be maintained at the current level or paid at all.

²This amount may be adjusted by the Board at any time to an amount no less than 5% nor more than 25% of the Fund’s outstanding shares. Shares are not otherwise redeemable. Shares will not be listed on any national securities exchange.

Performance

As of 11.30.24

Class / Benchmark	1 Month	3 Months	YTD	1 Year	3 Years	5 Years	10 Years	Inception
Class D	0.98%	2.89%	10.85%	12.93%	5.12%	-	-	4.57%
Class D	1.22%	3.35%	9.05%	13.26%	-	-	-	4.26%

Monthly Total Returns

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2021	-	-	-	-	-	-	-	-	-	-	-	0.84%
2022	-0.98%	-1.42%	0.00%	-1.35%	-2.73%	-3.98%	1.82%	1.01%	-3.51%	0.35%	2.67%	1.01%
2023	3.03%	0.00%	-0.44%	1.03%	-0.11%	1.67%	1.37%	0.56%	0.43%	-0.11%	2.05%	1.88%
2024	0.90%	0.67%	1.18%	0.45%	1.33%	0.87%	1.11%	0.99%	1.22%	0.66%	0.98%	-

Performance data quoted represent past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, so an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Returns representing more than one year are annualized.

Performance includes the reinvestment of income, dividends and capital gain distributions. Performance data excluding sales charges do not take into account any initial sales charges that may apply when shares are purchased or redemption charges when shares are sold; if these sales charges were reflected, the quoted performance would be lower.

Disclosures +

Fees & Expenses

Expenses (With Waiver)	Expenses (Without Waiver)	Waiver Expiry
2.10%	3.09%	4.30.2025

Fees & Expenses are as reflected in the Fund's current prospectus and assume a full year of Fund operations. The advisor has contractually agreed to waive fees and/or reimburse Fund expenses. There is no guarantee that such waiver/reimbursement will be continued.

Portfolio

As of 09/30/2024

Characteristics

498

Number of Issuers

10.97%

Current Yield

1.14 Years

Duration

$275.20

Net Assets (US$MM)

Top Industries

Software 9%

Hotels, Restaurants & Leisure 5%

Health Care Providers & Services 5%

Commercial Services & Supplies 5%

Other 3%

Media 3%

Insurance 2%

Aerospace & Defense 2%

Health Care Technology 2%

Diversified Consumer Services 2%

Asset Allocation

- High Yield Bonds
  
  20%
- Emerging Market
  
  2%
- Convertible Bonds
  
  0%
- Senior Loans
  
  27%
- Corporate Structured Debt
  
  19%
- Real Estate Debt
  
  7%
- Private Credit
  
  21%
- Cash / Cash Equivalent
  
  3%

Geographic Allocation

North America

80%

Europe Ex UK

11%

Asia Ex Japan

South America

Africa

Sector, geography and industry allocations and asset classes determined by Oaktree are expressed as a percentage of total investments (by market value) and will vary over time. These should not be considered recommendations to buy or sell any security. Due to rounding, amounts presented herein may not add up precisely to the total.
Top Industries excludes exposure to Structured Credit, which includes CLOs, CMBS and RMBS.

Distributions

As of 09.25.2024

8.69%

Current Distribution Rate

Quarterly

Distribution Frequency

Distribution History

Payable Date	Record Date	Ex Date	Amount per Share	Qualified Income Per Share	Return of Capital per Share	Short-Term Capital Gain per Share	Long-Term Capital Gain per Share
9/26/2024	9/25/2024	9/26/2024	$0.2018	-	-	-	-
6/27/2024	6/26/2024	6/27/2024	$0.1898	-	-	-	-
3/28/2024	3/27/2024	3/28/204	$0.1565	-	-	-	-
12/21/2023	12/20/2023	12/21/2023	$0.2487	-	-	-	-
9/21/2023	9/20/2023	9/21/2023	$0.1886	-	-	-	-
6/22/2023	6/21/2023	6/22/2023	$0.1866	-	-	-	-
3/23/2023	3/22/2023	3/23/2023	$0.0705	-	-	-	-
12/22/2022	12/21/2022	12/22/2022	$0.3399	-	-	-	-
9/22/2022	9/21/2022	9/22/2022	$0.1365	-	-	-	-
6/23/2022	6/22/2022	6/23/2022	$0.1027	-	-	-	-
3/24/2022	3/23/2022	3/24/2022	$0.0691	-	-	-	-
1/3/2022	12/31/2021	1/3/2022	$0.0027	-	-	-	-
12/16/2021	12/15/2021	12/16/2021	$0.0129	-	-	-	-

The Fund declares and pays dividends from net investment income. To the extent these distributions exceed net investment income, they may be classified as return of capital. The Fund also pays distributions at least annually from its net realized capital gains, if any. Dividends and distributions are recorded on the ex-dividend date. All common shares have equal dividend and other distribution rights. A notice disclosing the source(s) of a distribution is provided after a payment is made from any source other than net investment income. This notice, if applicable, will be available on this website page. Any such notice is provided only for informational purposes in order to comply with the requirements of Section 19(a) of the 1940 Act and not for tax reporting purposes. The tax composition of the Fund’s distributions for each calendar year is reported on IRS Form 1099-DIV. Shares purchased on or after the ex-distribution date will not receive the distribution discussed above. See Section 19a Notice for additional information.

Portfolio Management

Literature

Fund Materials

Regulatory Documents

Related Information

Fund Risks

Investing in the Fund involves risk, including possible loss of principal invested. There can be no assurance that the Fund will achieve its investment objective.

The Fund will subject Fund stockholders to greater levels of credit risk, call risk and liquidity risk than funds that do not invest in such securities.

Generally, lower-rated or unrated securities of equivalent credit quality offer a higher return potential than higher-rated securities but involve greater volatility of price and greater risk of loss of income and principal, including the possibility of a default or bankruptcy of the issuers of such securities.

An investment in the securities of financially distressed issuers can involve substantial risks. These securities may present a substantial risk of default or may be in default at the time of investment.

The Fund currently intends to use leverage to seek to achieve its investment objective. Leverage creates risks that may adversely affect the return for the holders of common stock.

The Fund may invest in securities of companies in an “emerging market.” Investments in emerging market securities involve a greater degree of risk than, and special risks in addition to, the risks associated with investments in domestic securities or in securities of foreign developed countries.

The Fund is new, with a limited operating history, and there can be no assurance that the Fund will grow or maintain an economically viable size, in which case the Board of Trustees of the Fund may decide to liquidate the Fund.

Definitions

Duration is a measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates.

Current yield is calculated by dividing the annual coupon payment by a bond’s current market value.