News Archives - Angel Oak Capital Advisors, LLC.: Recent Episodes
Angel Oak Capital Advisors
Angel Oak Financial Strategies Income Term Trust Issues Mandatorily Redeemable Preferred Shares and New Notes and Sets Record Date and Date for Annual Meeting of ShareholdersATLANTA — (May 22, 2026) — Angel Oak Financial Strategies Income Term Trust (NYSE – FINS) (the “Fund”) has closed a $50 million private offering of Series A Mandatorily Redeemable Preferred Shares, due April 30, 2031 (the “MRPS”). The MRPS are rated A3 by Moody’s Investors Service, Inc.
Net proceeds from the offering of the MRPS will be used primarily to refinance the Fund’s existing debt and to make new portfolio investments.
In addition, the Fund has entered into a Notes Purchase Agreement in connection with a private offering of $40 million of Series C Senior Notes, due July 8, 2030 (“Series C Notes”). The Series C Notes are rated A1 by Moody’s Investors Service, Inc.
Net proceeds from the offering of the Series C Notes will be used to redeem the Fund’s 2.35% Series A Senior Notes, which mature July 8, 2026, in accordance with their terms.
The table below summarizes certain key terms of the Fund’s current leverage
*Note the Series C Senior Note has a delayed draw and will replace the maturing Series A Senior Notes in July 2026.
Angel Oak Capital Advisors, LLC (“Angel Oak”), the Fund’s investment adviser, anticipates that its strategic use of leverage will be beneficial to income generation due to the positive interest-rate differential between the interest earned and the cost of leverage. Angel Oak further believes that the MRPS and Series C Notes will allow the Fund to continue to seek to drive value for Fund shareholders and take advantage of current market conditions for capital deployment.
ANNUAL MEETING
The Fund’s Board of Trustees (the “Board”) has called the annual meeting of Fund shareholders (the “Annual Shareholder Meeting”) to be held at 1:00 p.m. on September 25, 2026, at the offices of Angel Oak Capital Advisors, LLC, 980 Hammond Drive, Suite 200, Atlanta, Georgia 30328. The Fund has set the record date for July 10, 2026.
Based on the terms of the Bylaws, for nominations or other business to be properly brought before the Annual Shareholder Meeting, notice must be delivered not earlier than the 150th day prior to the date of the Annual Shareholder Meeting and not later than the close of business on the later of the 120th day prior to the date of the Annual Shareholder Meeting or the tenth day following the day on which public announcement of the date of such meeting is first made. In addition, the deadline and requirements for shareholder proposals of business to be conducted at the 2026 annual meeting of the shareholders of FINS must be made in compliance with the applicable securities laws.
At the Annual Shareholder Meeting, Fund shareholders (holders of common shares and MRPS) will be asked to vote on the following proposals:
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To elect each of Keith M. Schappert and Andrea N. Mullins as a Class II Trustee of the Fund;
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In the case of holders of the MRPS only, to elect Ira P. Cohen as a Class III Trustee of the Fund;
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To approve an amendment to the Fund’s Declaration of Trust to lower the threshold for the Shareholders to remove a Trustee for “Cause,” as defined in the Declaration of Trust, from 75% to 66.67% and lower the threshold for Trustees to remove a Trustee of the Fund for “Cause” from 75% to 66.67%;
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To approve adjournments of the Annual Meeting for the purpose of soliciting additional proxies if there are not sufficient votes at the Annual Meeting to approve the proposals or establish quorum;
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To ratify the selection of Cohen & Company, Ltd. as the Fund’s independent registered public accounting firm for the fiscal year ending January 31, 2027; and
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To approve the transacting of such other business as may properly come before the Annual Shareholder Meeting.
ABOUT FINS
Led by Angel Oak’s experienced financial services team, the Fund invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of the Fund’s portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak.
ABOUT ANGEL OAK CAPITAL ADVISORS, LLC
Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.
Information regarding the Fund and Angel Oak can be found at www.angeloakcapital.com.
Past performance is neither indicative nor a guarantee of future results. Investors should carefully consider the Fund’s investment objective and policies, risk considerations, charges and ongoing expenses of an investment before investing. For more information, please contact your investment representative or Destra Capital Advisors LLC at 877.855.3434.
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The $25B1 investment manager continues to see its ETF offerings surge in popularityATLANTA — (November 19, 2025) — Angel Oak Capital Advisors LLC, a leading investment manager specializing in active fixed income, today announced the three-year anniversary of its ETF platform. Since launching its first ETF in 2022, the firm has grown ETF assets under management to approximately $2.6 billion1 across five actively managed fixed income ETF strategies and subadvisor services.
“We are proud of the progress we’ve made in just three years and see a long runway for further growth,” said Sreeni Prabhu, Co-CEO and Group Chief Investment Officer of Angel Oak. “Investor demand has transformed what was once a niche market for actively managed fixed income ETFs, and we believe Angel Oak is uniquely positioned to lead in delivering differentiated income and total return solutions to institutions and advisors.”
A major driver of the platform’s success is the firm’s disciplined investment approach. Building on this, Angel Oak continues to broaden its offerings, most recently with the launch of the Angel Oak Total Return ETF. TRBF marks a key step in the platform’s expansion, giving investors the ability to utilized Angel Oak’s expertise in their core fixed income allocations.
As of Oct. 31, the Angel Oak UltraShort Income ETF surpassed $1.2 billion in AUM and received an overall 5-Star Morningstar rating in the Ultrashort Bond category among 209 funds, based on risk-adjusted returns, reflecting the success of its capital-preservation and income strategy. Angel Oak continues to extend its offerings across the duration spectrum as it builds a one-stop shop for differentiated fixed income ETF solutions.
“As the marketplace for active fixed income ETFs expands, our focus is on aligning investors with the differentiated strategies they want,” said Ward Bortz, ETF Portfolio Manager and Head of U.S. Wealth Distribution at Angel Oak. “Clients are looking for diversified income-generating opportunities historically available only to institutional managers, delivered in the familiar, tax-efficient ETF wrapper. We plan to continue leveraging our specialized expertise to meet that demand.”
Angel Oak remains committed to expanding its ETF platform and expects today’s favorable macroeconomic backdrop will continue creating yield and total return opportunities in its core areas of expertise relative to traditional fixed income offerings.
For more information on Angel Oak’s ETF platform, performance and product details, visit www.angeloakcapital.com.
Investors should carefully consider the investment objectives, risks, charges and expenses of the funds. This and other important information about the funds is contained in the Prospectus which can be obtained by calling Shareholder Services at 855-751-4324 or from www.angeloakcapital.com. The Prospectus should be read carefully before investing.
Investing involves risk; principal loss is possible. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower-rated and nonrated securities present a greater risk of loss to principal and interest than higher-rated securities do. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of, including credit risk, prepayment risk, possible illiquidity, and default, as well as increased susceptibility to adverse economic developments. Derivatives involve risks different from—and in certain cases, greater than—the risks presented by more traditional investments. Derivatives may involve certain costs and risks such as illiquidity, interest rate, market, credit, management, and the risk that a position could not be closed when most advantageous. Investing in derivatives could lead to losses that are greater than the amount invested. The Fund may use leverage, which may exaggerate the effect of any increase or decrease in the value of securities in the Fund’s portfolio or higher and duplicative expenses when it invests in mutual funds, ETFs, and other investment companies. The Funds are a recently organized investment company with limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decisions. For more information on these risks and other risks of the Fund, please see the Prospectus.
ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund is an actively managed ETF, which is a fund that trades like other publicly traded securities. The Fund is not an index fund and does not seek to replicate the performance of a specified index.
The Morningstar RatingTM (“star rating”) is calculated for funds with at least a three-year history. Exchange-traded and open-end mutual funds are combined into a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each fund category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar RatingTM is a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year (if applicable) Morningstar RatingTM metrics.
In the Ultrashort Bond category, the Angel Oak UltraShort Income ETF was rated 5 stars among 209 funds for the 3-year period ending 10/31/2025.
The Angel Oak Funds are distributed by Quasar Distributors, LLC.
1As of 9/30/25.
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As of October 31, 2025The estimated short-term and long-term capital gains distributions for 2025 are listed below. Please note, these estimates are unaudited estimates based on 10/24/25 book numbers and are subject to vary significantly from the actual distribution amount once all actual activity through 10/31 and all tax adjustments are incorporated into the calculation. There will be no estimates provided for distributions attributable to net investment income.
Date of Record 12/31/25 Dividend Reinvestment Date 1/02/26
Ex-Dividend Date 12/31/25 Payable Date 1/02/26
| Fund Name | Share Class | CUSIP | Ticker | Short-Term Capital Gains | Long-Term Capital Gains | | --- | --- | --- | --- | --- | --- | | Angel Oak High Yield Opportunities ETF | 03463K745 | AOHY | $0.00000 | $0.00000 | | | Angel Oak Income ETF | 03463K760 | CARY | $0.02400 | $0.01868 | | | Angel Oak Mortgage-Backed Securities ETF | 03463K737 | MBS | $0.00000 | $0.00000 | | | Angel Oak Multi-Strategy Income Fund | A | 03463K307 | ANGLX | $0.00000 | $0.00000 | | Angel Oak Multi-Strategy Income Fund | C | 03463K505 | ANGCX | $0.00000 | $0.00000 | | Angel Oak Multi-Strategy Income Fund | I | 03463K406 | ANGIX | $0.00000 | $0.00000 | | | Angel Oak Strategic Credit Fund | I | 03463F109 | ASCIX | $0.00000 | $0.00000 | | Angel Oak Strategic Credit Fund | FI | 03466A108 | ASCNX | $0.00000 | $0.00000 | | | Angel Oak Total Return ETF | 03463K729 | TRBF | $0.05657 | $0.00000 | | | Angel Oak UltraShort Income ETF | 03463K752 | UYLD | $0.00000 | $0.00216 | | | Angel Oak UltraShort Income Fund | A | 03463K844 | AOUAX | $0.00000 | $0.00000 | | Angel Oak UltraShort Income Fund | A1 | 03463K778 | AOUNX | $0.00000 | $0.00000 | | Angel Oak UltraShort Income Fund | I | 03463K828 | AOUIX | $0.00000 | $0.00000 |
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Investing involves risk; principal loss is possible. Past performance does not guarantee future results.
The Angel Oak Funds are distributed by Quasar Distributors, LLC.
© 2025 Angel Oak Capital Advisors, which is the adviser to the Angel Oak Funds.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Angel Oak Funds. This and other important information about the Funds is contained in the Prospectus and Summary Prospectus for each Fund, which can be obtained by calling Shareholder Services at 855-751-4324 or visiting www.angeloakcapital.com. Read it carefully before investing.
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ATLANTA — (October 2, 2025) — Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the “Fund”) today reported that Brookfield Asset Management Ltd. acquired a majority of Angel Oak Companies, LP, the parent of Angel Oak Asset Management Holdings, LLC, itself the parent of Angel Oak Capital Advisors, LLC (“Angel Oak”), the investment adviser of the Fund (the “Transaction”). The Transaction is not expected to result in any material change in the day-to-day management of the Fund.
The closing of the Transaction resulted in a change of control of Angel Oak (the “Change of Control”). Consistent with applicable requirements under the Investment Company Act of 1940, as amended (the “1940 Act”), the previous investment advisory agreement between Angel Oak and the Fund (the “Previous Advisory Agreement”), contained a provision that the Previous Advisory Agreement will automatically terminate in the event of an “assignment” (as defined in the 1940 Act). The Change of Control caused an assignment of the Previous Advisory Agreement and resulted in the automatic termination of the Previous Advisory Agreement.
At a meeting held on April 23, 2025, the Board of Trustees (the “Board”) of the Fund considered and approved a new investment advisory agreement between Angel Oak and the Fund (the “New Advisory Agreement”) with the same advisory fee and substantially similar terms and conditions to the Previous Advisory Agreement. At a special meeting of shareholders of the Fund held on September 26, 2025, the Fund’s shareholders approved the New Advisory Agreement. The New Advisory Agreement will not result in any material changes to the Fund’s investment objectives and principal investment strategies.
ABOUT FINS
Led by Angel Oak’s experienced financial services team, the Fund invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, the Fund will invest at least 50% of the Fund’s portfolio in debt investments rated investment grade by nationally recognized statistical rating organizations, or if unrated, judged by Angel Oak to be of investment grade quality.
ABOUT ANGEL OAK CAPITAL ADVISORS, LLC
Angel Oak Capital Advisors is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak Capital Advisors seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.
Information regarding the Fund and Angel Oak Capital Advisors can be found at www.angeloakcapital.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained herein constitute forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the Fund’s actual results or level of performance to be materially different from any future results or level of performance expressed or implied by such forward-looking statements. Such factors include, among others, those listed in the prospectus supplement and accompany the prospectus when available. As a result of these and other factors, the Fund cannot give you any assurances as to its future results or level of performance, and neither the Fund nor any other person assumes responsibility for the accuracy and completeness of such statements. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein.
Past performance is neither indicative nor a guarantee of future results. Investors should read the prospectus supplement and accompanying prospectus, when available, and consider the investment objectives and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information, please contact your investment representative or EQ Fund Solutions at 866-751-6314.
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ATLANTA — (September 29, 2025) — Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the “Fund”) announces that the Fund’s shareholders voted to approve the new investment advisory agreement between the Fund and Angel Oak Capital Advisors, LLC (the “Adviser” or “Angel Oak”) at the special meeting of shareholders held on September 26, 2025.
Ira P. Cohen, Chair of the Board of Trustees, said, “We thank our shareholders for their approval of the investment advisory agreement. My fellow directors and I are excited for the value creation opportunity presented by the combination of Angel Oak and Brookfield Asset Management. The Board looks forward to updating shareholders regarding opportunities to enhance the Fund’s governance when we have a tangible development to disclose.”
ABOUT FINS
Led by Angel Oak’s experienced financial services team, the Fund invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, the Fund will invest at least 50% of the Fund’s portfolio in debt investments rated investment grade by nationally recognized statistical rating organizations, or if unrated, judged by Angel Oak to be of investment grade quality.
ABOUT ANGEL OAK CAPITAL ADVISORS, LLC
Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.
Information regarding the Fund and the Adviser can be found at www.angeloakcapital.com.
Past performance is neither indicative nor a guarantee of future results. Investors should carefully consider the Fund’s investment objective and policies, risk considerations, charges and ongoing expenses of an investment before investing. For more information, please contact your investment representative or Destra Capital Advisors LLC at 877.855.3434.
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ATLANTA — (July 10, 2025) — Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the “Fund”) has announced the final certified voting results from the 2025 Annual Meeting of Shareholders held on June 26, 2025 (the “Annual Meeting”).
Proposal 1: Approval of New Investment Advisory Agreement
Proposal 2: Election of Trustees
Proposal 3: Ratification of Auditor
A total of 25,062,638.4 shares were entitled to vote as of the record date of April 16, 2025, out of which 17,970,576 were present at the Annual Meeting. Despite the strong support, neither the new investment advisory agreement nor the Trustees received enough votes to pass the required vote thresholds. In the coming months, FINS will communicate with shareholders regarding a special shareholder meeting after accounting for the results from the Annual Meeting. In addition, FINS will continue engaging with shareholders as it evaluates several shareholder-friendly enhancements for the Fund.
FINS appreciates its shareholders’ continued support of the Fund and of Angel Oak Capital Advisors, LLC, the Fund’s adviser (“Angel Oak”). Angel Oak has successfully managed FINS since its inception in 2019. FINS has focused on enhancing long-term shareholder value with proactive actions aimed at improving liquidity, efficiency, and performance. Shareholders most recently demonstrated their support of FINS’ performance through significant oversubscription in its recent rights offering in May 2025.
The final voting results have been certified by First Coast Results, Inc., the independent Inspector of Election, and will be included in FINS’ next semi-annual or annual report to shareholders, as applicable.
ABOUT FINS
Led by Angel Oak’s experienced financial services team, FINS invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of FINS’ portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak.
ABOUT ANGEL OAK CAPITAL ADVISORS, LLC
Angel Oak Capital Advisors (the “Adviser”) is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, the Adviser seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.
On April 1, 2025, Angel Oak Companies, LP, the parent of Angel Oak Asset Management Holdings, LLC, itself the parent company of the Adviser, announced that it signed a definitive agreement pursuant to which Brookfield Asset Management Ltd. will acquire a majority interest in Angel Oak Companies, LP and its subsidiaries, including the Adviser (the “Transaction”). The closing of the Transaction is expected to be completed by September 30, 2025. The Transaction is not expected to result in any material change in the day-to-day management of the Fund. However, the closing of the Transaction is subject to certain conditions, and there can be no assurance that the Transaction will be completed as planned, or that the necessary conditions will be satisfied. If successful, the closing of the Transaction would be deemed to be a change of “control” of Angel Oak Companies, LP and its subsidiaries (collectively, “Angel Oak”), including the Adviser, under the Investment Company Act of 1940, and deemed “assignment” of the Fund’s investment advisory agreement (the “Existing Advisory Agreement”), which would result in the automatic termination of the Fund’s Existing Advisory Agreement. However, following the closing of the Transaction, the existing management team of Angel Oak will continue to independently manage the day-to-day business of Angel Oak and the Adviser, and will control the board of directors of Angel Oak.
Information regarding the Fund and Angel Oak Capital Advisors can be found at www.angeloakcapital.com.
Past performance is neither indicative nor a guarantee of future results. Investors should read the prospectus supplement and accompanying prospectus and consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information, please contact your investment representative or EQ Fund Solutions at 866.751.6314.
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ATLANTA — (July 3, 2025) — Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the “Fund”) has announced the preliminary results provided by the independent inspector of elections from the Annual Meeting of Shareholders held on June 26, 2025 (the “Annual Meeting”), in which the Fund, its current trustees and Angel Oak management received strong support across all three proposals.
Proposal 1: Approval of New Investment Advisory Agreement
- A strong majority of FINS shareholders supported the proposed new investment advisory agreement (the “new agreement”) with Angel Oak Capital Advisors, LLC (“Angel Oak”), with 63.5% of votes cast at the Annual Meeting voting in favor. Shareholder approval for the new agreement is being requested because of a pending change in Angel Oak’s organizational structure unrelated to Angel Oak’s management of FINS, as described in FINS’s Proxy Statement filed with the U.S. Securities and Exchange Commission on May 9, 2025.
Proposal 2: Election of Trustees
- FINS nominated two experienced Trustees for additional three-year terms. Each of those nominees received in excess of 50% of the votes cast at the Annual Meeting. A dissident shareholder who opportunistically nominated himself to the board received significantly less than a majority of the votes cast at the Annual Meeting.
Proposal 3: Ratification of Auditor
- FINS’ auditor was ratified with 93.8% support from shareholders present at the Annual Meeting.
Despite the strong support, neither the new agreement nor the Trustees received enough votes to pass the required vote thresholds. Further communications will be provided as the final results become available. The Trustees of FINS will continue to ensure FINS’ shareholders are served by a trusted investment adviser.
FINS appreciates its shareholders’ continued support in the Fund and in Angel Oak. Angel Oak has successfully managed FINS since its inception in 2019. FINS has focused on enhancing long-term shareholder value with proactive actions aimed to improve liquidity, efficiency, and performance. Shareholders most recently demonstrated their support of FINS’ performance through significant oversubscription in its recent rights offering in May 2025.
ABOUT FINS
Led by Angel Oak’s experienced financial services team, FINS invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of FINS’ portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak.
ABOUT ANGEL OAK CAPITAL ADVISORS, LLC
Angel Oak Capital Advisors (the “Adviser”) is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, the Adviser seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.
On April 1, 2025, Angel Oak Companies, LP, the parent of Angel Oak Asset Management Holdings, LLC, itself the parent company of the Adviser, announced that it signed a definitive agreement pursuant to which Brookfield Asset Management Ltd. will acquire a majority interest in Angel Oak Companies, LP and its subsidiaries, including the Adviser (the “Transaction”). The closing of the Transaction is expected to be completed by September 30, 2025. The Transaction is not expected to result in any material change in the day-to-day management of the Fund. However, the closing of the Transaction is subject to certain conditions, and there can be no assurance that the Transaction will be completed as planned, or that the necessary conditions will be satisfied. If successful, the closing of the Transaction would be deemed to be a change of “control” of Angel Oak Companies, LP and its subsidiaries (collectively, “Angel Oak”), including the Adviser, under the Investment Company Act of 1940, and deemed “assignment” of the Fund’s investment advisory agreement (the “Existing Advisory Agreement”), which would result in the automatic termination of the Fund’s Existing Advisory Agreement. However, following the closing of the Transaction, the existing management team of Angel Oak will continue to independently manage the day-to-day business of Angel Oak and the Adviser, and will control the board of directors of Angel Oak.
Information regarding the Fund and Angel Oak Capital Advisors can be found at www.angeloakcapital.com.
Past performance is neither indicative nor a guarantee of future results. Investors should read the prospectus supplement and accompanying prospectus and consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information, please contact your investment representative or EQ Fund Solutions at 866.751.6314.
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ATLANTA — (June 18, 2025) — Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the “Fund”) is pleased to share an update on the Fund’s capital deployment and general performance following the successful completion of its recent rights offering, which was significantly oversubscribed and raised approximately $110.4 million in gross proceeds. Strong demand drove the oversubscription, with robust participation from existing shareholders, which the Fund believes reflects their confidence in the Fund’s management team and investment strategy.
For the period ended May 31, 2025, FINS has outperformed its index on a 1-year, 3-year, 5-year and since-inception basis. Additionally, FINS pays out a distribution of over 10% and has narrowed its discount to 5.6% as of May 31, 2025, one of the largest improvements of its peer group over the past year. The Fund’s management team continues to deploy fresh capital into higher-coupon bank debt, taking advantage of the marked increase in issuance volumes, as community and regional banks seek to refinance or call debt originated during the post-COVID 2020 vintage.
“The banking sector has several notable tailwinds we are seeking to take advantage of, given strong credit fundamentals across the banking system, with expanding net interest margins, stable credit quality and a growing pipeline of M&A activity,” said Johannes Palsson, Portfolio Manager for the Fund. “The success of our recent offering validates our conviction in the opportunities we’re seeing across the financial sector, and we look forward to deploying capital in the current environment.”
“With decades of experience across our management team and nearly $2 billion invested across private and public strategies in regional and community bank debt, Angel Oak is well positioned to deploy capital and deliver value for our investors,” said Sreeni Prabhu, Managing Partner and Group Chief Investment Officer. “Our success in managing through multiple cycles and our established presence in the bank-debt sector for more than a decade bode well for the bullish outlook we expect to maintain over the next six to 12 months.”
NAV PERFORMANCE AND THE RIGHTS OFFERING
Ahead of the rights offering share issuance, FINS’ 2025 year-to-date NAV performance benefitted from the resumption of bank debt primary market issuance with meaningful volume, following a slowdown in 2023 and early 2024 due to rising interest rates and the lingering effects of the regional banking crisis. New investment-grade bank debt is coming to market at highly attractive coupons, and pricing has improved on legacy portfolio positions. Notably, a significant portion of the legacy bank-debt portfolio is approaching its call and floating-rate period within the next 12 months, which the Fund believes will position these holdings to pull to par as deals reset to floating rate or are called. Additionally, select tactical equity positions rebounded sharply post-Liberation Day. Tactical opportunities remain a small portion of the Fund, accounting for less than 10% of overall AUM as of May 31, 2025.
During the recent rights offering period, NAV was affected by heightened volatility surrounding two specific equity and preferred equity positions: KINS and PNBK.
- KINS: Angel Oak received warrants with a $1 strike price in conjunction with KINS’s 2022 bond issuance. The company reported strong quarterly earnings and is slated for inclusion in the Russell 3000 on June 27, 2025. While the stock initially rallied following earnings, it has since pulled back over the past month. The position remains well in the money and the Fund believes it continues to offer an attractive risk-reward profile.
- PNBK: Following a recapitalization under new management in March 2025—including new common and convertible preferred equity — PNBK’s stock performance ahead of the lockup expiration exceeded expectations by several standard deviations before returning to a more normalized valuation post-expiration. This position also remains well in the money and the Fund believes it is attractive from a risk-reward standpoint.
Following the close of the recent rights offering, Angel Oak’s investment team rapidly deployed proceeds into money center and regional bank debt to eliminate cash drag. As the issuance calendar accelerates, the team continues to optimize the portfolio by adding higher-coupon community bank bonds. Approximately one-third of the proceeds have already been redeployed, with an average coupon of 7.65% on new community bank-debt investments (range: 7.00%-8.50%), which is over 100 basis points higher than the Fund’s average coupon of 6.49% as of March 31, 2025. The team believes the near-term pipeline remains strong, with anticipated new issue coupons ranging from 7.50% to 8.75%.
SECTOR AND AUM BREAKDOWN
HOLDINGS
Click here to access the Fund’s holdings as of 4/30/25.
Click here to access the Fund’s holdings as of 5/31/25.
ABOUT FINS
Led by Angel Oak’s experienced financial services team, FINS invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of FINS’ portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak.
ABOUT ANGEL OAK CAPITAL ADVISORS, LLC
Angel Oak Capital Advisors (the “Adviser”) is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, the Adviser seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.
On April 1, 2025, Angel Oak Companies, LP, the parent of Angel Oak Asset Management Holdings, LLC, itself the parent company of the Adviser, announced that it signed a definitive agreement pursuant to which Brookfield Asset Management Ltd. will acquire a majority interest in Angel Oak Companies, LP and its subsidiaries, including the Adviser (the “Transaction”). The closing of the Transaction is expected to be completed by September 30, 2025. The Transaction is not expected to result in any material change in the day-to-day management of the Fund. However, the closing of the Transaction is subject to certain conditions, and there can be no assurance that the Transaction will be completed as planned, or that the necessary conditions will be satisfied. If successful, the closing of the Transaction would be deemed to be a change of “control” of Angel Oak Companies, LP and its subsidiaries (collectively, “Angel Oak”), including the Adviser, under the Investment Company Act of 1940, and deemed “assignment” of the Fund’s investment advisory agreement (the “Existing Advisory Agreement”), which would result in the automatic termination of the Fund’s Existing Advisory Agreement. However, following the closing of the Transaction, the existing management team of Angel Oak will continue to independently manage the day-to-day business of Angel Oak and the Adviser, and will control the board of directors of Angel Oak.
At a meeting held on April 23, 2025, the Board of the Fund approved a new investment advisory agreement between Angel Oak and the Fund (the “New Advisory Agreement”), subject to shareholder approval at a shareholder meeting to be held on June 26, 2025. This communication is not a proxy and is not soliciting any proxy in connection therewith, which can only be done by means of a proxy statement.
Information regarding the Fund and Angel Oak Capital Advisors can be found at www.angeloakcapital.com.
Past performance is neither indicative nor a guarantee of future results. Investors should read the prospectus supplement and accompanying prospectus and consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information, please contact your investment representative or EQ Fund Solutions at 866.751.6314.
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ATLANTA — (May 15, 2025) — Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the “Fund”) today announced the preliminary results of its transferable rights offering (the “Offer”). The Offer commenced on April 21, 2025, and expired on May 14, 2025 (the “Expiration Date”).
The Offer entitled rights holders to subscribe for up to an aggregate of 8,354,213 of the Fund’s common shares of beneficial interest, par value $0.001 per share (“Common Shares”). The final subscription price of $13.23 per Common Share was determined based upon a formula equal to 90% of the Fund’s net asset value per Common Share at the close of trading on the NYSE on the Expiration Date. As a result of high investor demand, the Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro rata among those fully exercising record date shareholders who oversubscribed based on the number of rights originally issued to them by the Fund. The Common Shares subscribed for will be issued after completion of the pro rata allocation of over-subscription shares and receipt of all shareholder payments.
The Fund will return to those investors who submitted over-subscription requests the full amount of their excess payments. The Fund will issue all of the 8,354,213 Common Shares offered pursuant to the Offer. The gross proceeds of the Offer are expected to be approximately $110.4 million.
“We are very pleased with the results of the FINS rights offering,” said Johannes Palsson, Portfolio Manager for the Fund. “We continue to see significant opportunities across the capital stack for bank investors. We expect significant debt issuance from community banks over the coming months, as the 2020 post COVID vintage moves into floating rate / call period. The sector should also benefit from a lighter touch regulatory background and increased M&A activity under the new administration,” said Palsson.
ABOUT FINS
Led by Angel Oak’s experienced financial services team, FINS invests predominantly in U.S. financial sector debt as well as selective opportunities across financial sector preferred and common equity. Under normal circumstances, at least 50% of FINS’ portfolio is publicly rated investment grade or, if unrated, judged to be of investment grade quality by Angel Oak.
ABOUT ANGEL OAK CAPITAL ADVISORS, LLC
Angel Oak Capital Advisors (the “Adviser”) is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, the Adviser seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage backed securities and other areas of structured credit.
On April 1, 2025, Angel Oak Companies, LP, the parent of Angel Oak Asset Management Holdings, LLC, itself the parent company of the Adviser, announced that it signed a definitive agreement pursuant to which Brookfield Asset Management Ltd. will acquire a majority interest in Angel Oak Companies, LP and its subsidiaries, including the Adviser (the “Transaction”). The closing of the Transaction is expected to be completed by September 30, 2025. The Transaction is not expected to result in any material change in the day-to-day management of the Fund. However, the closing of the Transaction is subject to certain conditions, and there can be no assurance that the Transaction will be completed as planned, or that the necessary conditions will be satisfied. If successful, the closing of the Transaction would be deemed to be a change of “control” of Angel Oak Companies, LP and its subsidiaries (collectively, “Angel Oak”), including the Adviser, under the Investment Company Act of 1940, and deemed “assignment” of the Fund’s investment advisory agreement (the “Existing Advisory Agreement”), which would result in the automatic termination of the Fund’s Existing Advisory Agreement. However, following the closing of the Transaction, the existing management team of Angel Oak will continue to independently manage the day-to-day business of Angel Oak and the Adviser, and will control the board of directors of Angel Oak.
At a meeting held on April 23, 2025, the Board of the Fund approved a new investment advisory agreement between Angel Oak and the Fund (the “New Advisory Agreement”), subject to shareholder approval at a shareholder meeting to be held on June 26, 2025. This communication is not a proxy and is not soliciting any proxy in connection therewith, which can only be done by means of a proxy statement.
Information regarding the Fund and Angel Oak Capital Advisors can be found at www.angeloakcapital.com.
Past performance is neither indicative nor a guarantee of future results. Investors should read the prospectus supplement and accompanying prospectus and consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information, please contact your investment representative or EQ Fund Solutions at 866.751.6314.
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ATLANTA – (May 14, 2025) – Angel Oak Capital Advisors, LLC a leading investment manager specializing in structured credit, today announced the completion of its first home equity line of credit securitization, AOMT 2025-HB1, further expanding its market-leading residential mortgage securitization platform. Angel Oak has issued more than 60 securitizations since 2015, comprising more than 50,000 non-agency mortgage loans, for approximately $22 billion in aggregate.
AOMT 2025-HB1, Angel Oak’s sixth securitization of 2025, was rated by Kroll Bond Rating Agency and notably six times oversubscribed at the AAArated tranche, demonstrating strong investor appetite and a reflection of investor confidence in Angel Oak’s leadership and RMBS success over the past decade. The approximately $191 million securitization is backed by HELOCs originated through Angel Oak’s affiliate lending channel and thirdparty channels. The deal has an approximate weighted average coupon of 10.9%, with an average FICO score of 746 and a combined loan-to-value ratio of 63%, reflecting relatively strong borrower credit quality.
“We remain solidly bullish on U.S. housing overall, relative to other areas of credit, and the broader fixed-income landscape,” said Sreeni Prabhu, Co-CEO and Managing Partner at Angel Oak. “We believe that differentiated opportunities like those found through HELOCs present compelling investments, and we’re proud that our first issuance was met with such strong demand, a reflection of our capital markets team’s tenure and trust.”
“Our inaugural HELOC securitization reflects our ability to execute for investors seeking access to high-quality, residential credit exposure,” said Namit Sinha, Managing Director and Chief Investment Officer at Angel Oak. “We’re proud to bring our expertise into the HELOC space, demonstrating our ability to innovate in the market while maintaining the high standards and operational success that investors expect from the AOMT platform.”
As opportunity in the HELOC space grows, Angel Oak intends to continue delivering HELOC securitizations to the market alongside the traditional, non-QM securitizations the firm is known for.
To learn more about Angel Oak Capital Advisors, click here.
ABOUT ANGEL OAK CAPITAL ADVISORS, LLC
Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of securitized credit. For more information, please visit www.angeloakcapital.com.
This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith, and any related legal, tax, accounting or other material considerations. To the extent that the reader has any questions regarding the applicability of any specific issue discussed above to their specific portfolio or situation, prospective investors are encouraged to contact Angel Oak or consult with the professional advisor of their choosing.
There is no guarantee that the investment objectives will be achieved. Moreover, past performance is not a guarantee or indicator of future results.
The specific investments described herein do not represent all investment decisions made by Angel Oak. The reader should not assume that investment decisions identified and discussed were or will be profitable. Specific investment advice references provided herein are for illustrative purposes only and are not necessarily representative of investments that will be made in the future.
Certain information contained herein constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe,” or the negatives thereof, or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events, results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Nothing contained herein may be relied upon as a guarantee, promise, assurance or representation as to the future.
Investment involves risk, including the possible loss of capital.
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Brookfield Asset Management and Angel Oak Companies today announced that they have entered into an agreement in which Brookfield will acquire a majority ownership stake in Angel Oak, expanding Brookfield’s credit business and offering its investors access to Angel Oak’s residential mortgage credit strategies while maintaining the firm’s independent operations and leadership.
The post Brookfield Asset Management and Angel Oak to Enter into Strategic Partnership appeared first on Angel Oak Capital Advisors, LLC..
ATLANTA — (December 4, 2024) — Angel Oak Capital Advisors (Angel Oak), a leading investment management firm focused on active fixed-income investing, announces that, effective on or about Dec. 20, the stock exchange listings for the Angel Oak High Yield Opportunities ETF (AOHY), Angel Oak Income ETF (CARY), Angel Oak Mortgage-Backed Securities ETF (MBS) and Angel Oak UltraShort Income ETF (UYLD) will be transferred to The Nasdaq Stock Market LLC (Nasdaq) from the New York Stock Exchange Arca Inc.
The board of trustees of the Angel Oak Funds Trust approved the transfer at a meeting on Dec. 4. Angel Oak expects the funds to begin trading as Nasdaq-listed funds on Dec. 20. Shares will continue to trade under the same tickers. Fund shareholders are not required to take any action, and the transfer is not expected to have any effect on the trading of the shares.
Now managing more than $1.5 billion in assets through its ETFs and sub-advisory services, Angel Oak offers a suite of ETFs to provide investors with unique options tailored to various risk-reward profiles.
For more information on Angel Oak’s ETFs and to view the latest performance data, click here.
About Angel Oak Capital Advisors, LLC
Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of securitized credit. For more information, please visit www.angeloakcapital.com.
| AOHY1 | CARY2 | MBS3 | UYLD4 | | --- | --- | --- | --- | | Gross Expense Ratio | 0.56% | 1.00% | 0.80% | 0.55% | | Net Expense Ratio | 0.56% | 0.80% | 0.50% | 0.29% |
1Gross and net expense ratios are reported as of the 5/30/24 prospectus.
2Gross and net expense ratios are reported as of the 5/30/24 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.79% of the Fund’s average daily net assets through 5/31/25.
3Gross and net expense ratios are reported as of the 5/30/24 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.49% of the Fund’s average daily net assets through 9/30/25.
4Gross and net expense ratios are reported as of the 5/30/24 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.29% of the Fund’s average daily net assets through 5/31/25.
Investors should carefully consider the investment objectives, risks, charges and expenses of the funds. This and other important information about the funds is contained in the Prospectus which can be obtained by calling Shareholder Services at 855-751-4324 or from www.angeloakcapital.com. The Prospectus should be read carefully before investing.
Investing involves risk; principal loss is possible. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower-rated and nonrated securities present a greater risk of loss to principal and interest than higher-rated securities do. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of, including credit risk, prepayment risk, possible illiquidity, and default, as well as increased susceptibility to adverse economic developments. Derivatives involve risks different from—and in certain cases, greater than—the risks presented by more traditional investments. Derivatives may involve certain costs and risks such as illiquidity, interest rate, market, credit, management, and the risk that a position could not be closed when most advantageous. Investing in derivatives could lead to losses that are greater than the amount invested. The Fund may use leverage, which may exaggerate the effect of any increase or decrease in the value of securities in the Fund’s portfolio or higher and duplicative expenses when it invests in mutual funds, ETFs, and other investment companies. The Funds are a recently organized investment company with limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decisions. For more information on these risks and other risks of the Fund, please see the Prospectus.
ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund is an actively managed ETF, which is a fund that trades like other publicly traded securities. The Fund is not an index fund and does not seek to replicate the performance of a specified index.
The Angel Oak Funds are distributed by Quasar Distributors, LLC.
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Angel Oak’s $1.4B ETF suite continues to gain traction with institutional investors seeking diverse income solutions in liquid strategiesATLANTA — (November 13, 2024) — Angel Oak Capital Advisors, a leading investment management firm focused on active fixed-income investing, announces the continued success of its ETF platform as it reaches its two-year anniversary. Now managing over $1.4 billion in assets through its ETFs and sub-advisory services, Angel Oak has achieved steady asset growth with its suite of distinct credit-focused solutions. Having reached the $1 billion milestone in June of this year, the firm’s four ETFs provide solutions for advisors and institutional investors seeking diversified fixed-income strategies that meet a range of risk-managed needs.
“We’ve been investing in the fixed-income markets for nearly 15 years, and the recent success of our ETFs demonstrates the demand for efficient access to investment strategies like ours,” said Sreeni Prabhu, Co-CEO and Group Chief Investment Officer. “As the appetite for actively managed ETFs grows, we see tremendous potential to capitalize on our ETF market leadership and fixed-income expertise. We look forward to building our platform even further to meet the growing needs of our investor base.”
A primary driver of Angel Oak’s ETF success is the firm’s active investment strategy, which includes a strategic overweight to securitized credit. This approach creates opportunities for the investment team to take advantage of premiums relative to similarly rated corporate bonds, traditionally overweight in fixed-income portfolios. The firm’s ETFs invest primarily in agency and non-agency residential mortgage-backed securities, as well as consumer asset-backed securities, alongside traditional corporate bonds and cash equivalents. This distinct approach has allowed Angel Oak to deliver strong risk-adjusted returns compared to its peers and respective benchmarks.
“We continue to see strong tailwinds within the fixed-income landscape we invest in, particularly as spreads remain above historical norms, positioning us to deliver yield advantages relative to traditional bond funds,” said Ward Bortz, ETF portfolio manager at Angel Oak Capital Advisors. “As more investors seek to diversify their fixed-income allocations, strategies like ours can offer high credit quality with the potential for strong total return.”
Angel Oak’s suite of ETFs provides investors with unique options that are tailored to various risk-reward profiles (listed below from highest to lowest risk):
Angel Oak High Yield Opportunities ETF (AOHY): Focuses on high-yield income through a unique blend of corporate and structured credit, optimizing for yield with enhanced credit quality
Angel Oak Income ETF (CARY): Aims to provide current income by investing in the best risk-adjusted return opportunities across a diversified basket of U.S. fixed-income instruments
Angel Oak Mortgage-Backed Securities ETF (MBS): Targets total return with a diversified portfolio of agency and non-agency mortgage-backed securities, emphasizing both stable income and price appreciation
Angel Oak UltraShort Income ETF (UYLD): Designed for capital preservation, this Fund will have a duration of less than one year and seeks to provide current income through high-quality, securitized credit assets
We see no signs of slowing investor demand for unique, actively managed fixed-income ETFs, so we are excited for what 2025 has in store and look forward to potentially bringing additional products to market, providing our clients with an even more diverse set of tools that leverage our market expertise,” said Bortz.
For more information on Angel Oak’s ETFs and to view the latest performance data, click here.
About Angel Oak Capital Advisors, LLC
Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of securitized credit. For more information, please visit www.angeloakcapital.com.
| AOHY1 | CARY2 | MBS3 | UYLD4 | | --- | --- | --- | --- | | Gross Expense Ratio | 0.56% | 1.00% | 0.80% | 0.55% | | Net Expense Ratio | 0.56% | 0.80% | 0.50% | 0.29% |
1Gross and net expense ratios are reported as of the 5/30/24 prospectus.
2Gross and net expense ratios are reported as of the 5/30/24 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.79% of the Fund’s average daily net assets through 5/31/25.
3Gross and net expense ratios are reported as of the 5/30/24 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.49% of the Fund’s average daily net assets through 9/30/25.
4Gross and net expense ratios are reported as of the 5/30/24 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.29% of the Fund’s average daily net assets through 5/31/25.
Investors should carefully consider the investment objectives, risks, charges and expenses of the funds. This and other important information about the funds is contained in the Prospectus which can be obtained by calling Shareholder Services at 855-751-4324 or from www.angeloakcapital.com. The Prospectus should be read carefully before investing.
Investing involves risk; principal loss is possible. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower-rated and nonrated securities present a greater risk of loss to principal and interest than higher-rated securities do. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of, including credit risk, prepayment risk, possible illiquidity, and default, as well as increased susceptibility to adverse economic developments. Derivatives involve risks different from—and in certain cases, greater than—the risks presented by more traditional investments. Derivatives may involve certain costs and risks such as illiquidity, interest rate, market, credit, management, and the risk that a position could not be closed when most advantageous. Investing in derivatives could lead to losses that are greater than the amount invested. The Fund may use leverage, which may exaggerate the effect of any increase or decrease in the value of securities in the Fund’s portfolio or higher and duplicative expenses when it invests in mutual funds, ETFs, and other investment companies. The Funds are a recently organized investment company with limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decisions. For more information on these risks and other risks of the Fund, please see the Prospectus.
ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund is an actively managed ETF, which is a fund that trades like other publicly traded securities. The Fund is not an index fund and does not seek to replicate the performance of a specified index.
The Angel Oak Funds are distributed by Quasar Distributors, LLC.
The post Angel Oak Capital Advisors’ ETF Platform Reaches Two-Year Anniversary appeared first on Angel Oak Capital Advisors, LLC..
As of October 31, 2024The estimated short-term and long-term capital gains distributions for 2024 are listed below. Please note, these estimates are unaudited estimates based on 10/28/24 book numbers and are subject to vary significantly from the actual distribution amount once all actual activity through 10/31 and all tax adjustments are incorporated into the calculation. There will be no estimates provided for distributions attributable to net investment income.
Date of Record 12/26/24 Dividend Reinvestment Date 12/27/24
Ex-Dividend Date 12/27/24 Payable Date 12/27/24
| Fund Name | Share Class | CUSIP | Ticker | Short-Term Capital Gains | Long-Term Capital Gains | | --- | --- | --- | --- | --- | --- | | Angel Oak High Yield Opportunities ETF | 03463K745 | AOHY | $0.00000 | $0.00000 | | | Angel Oak Income ETF | 03463K760 | CARY | $0.09870 | $0.02501 | | | Angel Oak Mortgage-Backed Securities ETF | 03463K737 | MBS | $0.00000 | $0.00000 | | | Angel Oak Multi-Strategy Income Fund | A | 03463K307 | ANGLX | $0.00000 | $0.00000 | | Angel Oak Multi-Strategy Income Fund | C | 03463K505 | ANGCX | $0.00000 | $0.00000 | | Angel Oak Multi-Strategy Income Fund | I | 03463K406 | ANGIX | $0.00000 | $0.00000 | | | Angel Oak Strategic Credit Fund | I | 03463F109 | ASCIX | $0.00000 | $0.00000 | | Angel Oak Strategic Credit Fund | FI | 03466A108 | ASCNX | $0.00000 | $0.00000 | | | Angel Oak UltraShort Income ETF | 03463K752 | UYLD | $0.00000 | $0.00014 | | | Angel Oak UltraShort Income Fund | A | 03463K844 | AOUAX | $0.00000 | $0.00000 | | Angel Oak UltraShort Income Fund | A1 | 03463K778 | AOUNX | $0.00000 | $0.00000 | | Angel Oak UltraShort Income Fund | I | 03463K828 | AOUIX | $0.00000 | $0.00000 |
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ATLANTA — (August 7, 2024) — Angel Oak Capital Advisors, LLC, a leading structured credit investment management firm, announced today that the Angel Oak Strategic Credit Fund (ASCIX or the Fund) has surpassed $100 million in assets under management. The interval fund, which invests primarily in non-agency residential mortgage-backed securities and other asset-backed securities, has delivered compelling risk-adjusted returns over its six-year lifespan — a span that has included periods of quite volatile investment environments.
“Angel Oak was an early mover on delivering structured credit opportunities in an interval fund. That allows us to be opportunistic in times of volatility while still shielding the Fund from liquidity and redemption risk driven by short-term uncertainty,” said Sreeni Prabhu, Managing Partner and Group Chief Investment Officer for Angel Oak. “We are continuing to see increased interest in ASCIX. In this macroeconomic climate, advisors and institutions seek differentiated fixed-income strategies that align with their risk needs. Angel Oak has an impressive history of offering such strategies.”
The interval fund structure has proven to be a significant advantage during periods of economic fluctuation. Angel Oak’s approach allows the Fund to go further down in credit quality, which results in higher-yielding positions. At a sector level, ASCIX expresses the firm’s best ideas in structured credit with allocations across RMBS, ABS, CLOs, CMBS and corporate debt. The Fund’s strategy includes a distinct overweight to strategic credit assets, offering diversification not typically found in traditional fixed-income funds.
“For more than a decade, investors have been largely under-allocated to key areas of structured credit, but we’re seeing an uptick in interest now as traditional fixed-income assets and passive strategies are struggling to keep up with the changing market dynamics,” said Clayton Triick, CFA, Head of Portfolio Management of Public Strategies at Angel Oak. “We’re really pleased with how the Fund has performed and believe we are well positioned to continue uncovering new opportunities that will drive yield.”
Registered investment advisors and institutional investors have used ASCIX primarily as a diversifier in their fixed-income sleeve while potentially benefiting from the additional yield the Fund seeks to achieve. The interval fund structure provides the flexibility and strategic benefits that enable Angel Oak to hold positions during volatile times while maintaining the liquidity necessary to potentially capitalize on market opportunities as they arise.
To learn more about Angel Oak and its investment solutions, click here.
Net Total Returns (as of 6/30/24)
| YTD | 1YR | 3YR | 5YR | Since Inception1 | Gross Expense Ratio2 | Net Expense Ratio2 | | --- | --- | --- | --- | --- | --- | --- | | Angel Oak Strategic Credit Fund (ASCIX) | 6.38% | 12.93% | 7.79% | 6.73% | 6.57% | 2.14% | 2.14% | | Bloomberg U.S. Aggregate Bond Index | -0.71% | 2.63% | -3.02% | -0.23% | 0.80% | – | – |
1The inception date of the Angel Oak Strategic Credit Fund Class I (ASCIX) was 12/26/17.
2Gross and net expense ratios are reported as of the 5/30/24 prospectus.
About Angel Oak Capital Advisors, LLC
Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of structured credit.
DEFINITIONS:
ABS: Asset-backed security.
CLO: Collateralized loan obligation.
CMBS: Commercial mortgage-backed security.
RMBS: Residential mortgage-backed security.
Performance quoted is past performance and is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data shown. Current performance for the most recent month end can be obtained by calling 855-751-4324 or by visiting www.angeloakcapstg.wpengine.com.
Investors should carefully consider the investment objectives, risks, charges and expenses of the funds. This and other important information about the funds is contained in the Prospectus which can be obtained by calling Shareholder Services at 855-751-4324 or from www.angeloakcapstg.wpengine.com. The Prospectus should be read carefully before investing.
Investing involves risk; principal loss is possible. The Strategic Credit Fund is a closed-end Interval Fund. The Fund’s shares will not be listed on an exchange in the foreseeable future, if at all. It is possible that a repurchase offer may be oversubscribed, in which case shareholders may only have a portion of their shares repurchased. Quarterly repurchase offers and liquidity are limited. The Fund’s derivative investments have risks, including the imperfect correlation between the value of such instruments and the underlying asset, rate, or index, which creates the possibility that the loss on such instruments may be greater than the gain in the value of the underlying asset, rate, or index; the loss of principal; the possible default of the other party to the transaction; and illiquidity of the derivative investments. The Fund may invest in illiquid securities and restricted securities. Investments in restricted securities could have the effect of increasing the amount of the Fund’s assets invested in illiquid securities if qualified institutional buyers are unwilling to purchase these securities. The Fund will be subject to risks associated with adverse political and economic developments in foreign countries, including seizure or nationalization of foreign deposits, the imposition of economic sanctions, different legal systems and laws relating to bankruptcy and creditors’ rights, and the potential inability to enforce legal judgments, all of which could cause the Fund to lose money on its investments in non-U.S. securities. Changes in interest rates generally will cause the value of fixed- income instruments held by the Fund to vary inversely to such changes. Below-investment-grade instruments are commonly referred to as “junk” or high- yield instruments, and are regarded as predominantly speculative with respect to the issuer’s capacity to pay interest and repay principal. Lower-grade instruments may be particularly susceptible to economic downturns. The price paid by the Fund for asset-backed securities, including CLOs; the yield the Fund expects to receive from such securities; and the average life of such securities are based on a number of factors, including the anticipated rate of prepayment of the underlying assets. Mortgage-backed securities are subject to the general risks associated with investing in real estate securities; that is, they may lose value if the value of the underlying real estate to which a pool of mortgages relates declines. For more information on these risks and other risks of the Fund, please see the Prospectus.
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Less than two years since inception, the firm’s suite of ETFs continues to grow, finding success in solving for potential gaps in advisor and institutional portfoliosATLANTA — (June 25, 2024) — Angel Oak Capital Advisors, LLC (Angel Oak), a leading investment management firm focused on securitized credit investing, announced that its exchange-traded fund (ETF) platform, composed of its four actively managed fixed income ETFs and its sub-advisory services, has surpassed $1 billion in assets under management (AUM) since launching in November 2022.
“Reaching the $1 billion mark in just 20 months is a testament to the trust that our clients place in us and our deep expertise in the securitized credit market,” said Sreeni Prabhu, Managing Partner and Co-CEO at Angel Oak. “Everyone at Angel Oak is proud of this achievement, and we believe our scale will allow us to help even more investors.”
Following the firm’s first ETF launch, Angel Oak UltraShort Income ETF (NYSE: UYLD), Angel Oak also successfully launched Angel Oak Income ETF (NYSE: CARY) and, earlier this year, converted two of its mutual funds into ETFs — Angel Oak High Yield Opportunities ETF (NYSE: AOHY) and Angel Oak Mortgage-Backed Securities ETF (NYSE: MBS). The ETF suite is one of the few in the marketplace offering investors significant exposure to non-agency residential mortgage-backed securities, consumer asset-backed securities and other securitized credit assets with an actively managed approach.
This AUM milestone underscores the robust growth and strong market acceptance of Angel Oak’s innovative investment offerings in a marketplace that was previously starved for securitized credit ETF solutions. By effectively addressing the needs of advisors and institutional investors, the platform offers compelling investment opportunities that seek a distinct combination of strong yield potential with diversification away from traditional fixed-income assets.
“We are grateful for the affirming response from advisors and institutional investors. It has been nothing less than remarkable. We continue to have productive conversations about the role these different solutions can play in a portfolio, especially given the significant premium currently offered by securitized credit,” said Ward Bortz, ETF Portfolio Manager and the Head of Distribution for US Wealth. “The asset classes we invest in are often underrepresented in investment portfolios — particularly ETF portfolios. We look forward to helping these investors access securitized credit and the continued growth of our platform.”
Angel Oak continues to increase its reach and influence in the investment community, working closely with advisors and institutional investors across the country to grow its ETF platform and explore broader partnership and sub-advisory opportunities. Angel Oak’s ETFs are currently listed on several platforms, including Baird, LPL, Raymond James, Stifel and UBS.
To learn more about Angel Oak’s ETF offerings, click here.
About Angel Oak Capital Advisors, LLC
Angel Oak is an investment management firm focused on providing compelling fixed-income investment solutions to its clients. Backed by a value-driven approach, Angel Oak seeks to deliver attractive, risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income, with a specialization in mortgage-backed securities and other areas of securitized credit. For more information, please visit www.angeloakcapital.com.
| AOHY1 | CARY2 | MBS3 | UYLD4 | | --- | --- | --- | --- | | Gross Expense Ratio | 0.56% | 1.00% | 0.80% | 0.55% | | Net Expense Ratio | 0.56% | 0.80% | 0.50% | 0.29% |
1Gross and net expense ratios are reported as of the 5/30/24 prospectus.
2Gross and net expense ratios are reported as of the 5/30/24 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.79% of the Fund’s average daily net assets through 5/31/25.
3Gross and net expense ratios are reported as of the 5/30/24 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.49% of the Fund’s average daily net assets through 9/30/25.
4Gross and net expense ratios are reported as of the 5/30/24 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.29% of the Fund’s average daily net assets through 5/31/25.
Investors should carefully consider the investment objectives, risks, charges and expenses of the funds. This and other important information about the funds is contained in the Prospectus which can be obtained by calling Shareholder Services at 855-751-4324 or from www.angeloakcapital.com. The Prospectus should be read carefully before investing.
Investing involves risk; principal loss is possible. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower-rated and nonrated securities present a greater risk of loss to principal and interest than higher-rated securities do. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of, including credit risk, prepayment risk, possible illiquidity, and default, as well as increased susceptibility to adverse economic developments. Derivatives involve risks different from—and in certain cases, greater than—the risks presented by more traditional investments. Derivatives may involve certain costs and risks such as illiquidity, interest rate, market, credit, management, and the risk that a position could not be closed when most advantageous. Investing in derivatives could lead to losses that are greater than the amount invested. The Fund may use leverage, which may exaggerate the effect of any increase or decrease in the value of securities in the Fund’s portfolio or higher and duplicative expenses when it invests in mutual funds, ETFs, and other investment companies. The Funds are a recently organized investment company with limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decisions. For more information on these risks and other risks of the Fund, please see the Prospectus.
ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Fund is an actively managed ETF, which is a fund that trades like other publicly traded securities. The Fund is not an index fund and does not seek to replicate the performance of a specified index.
The Angel Oak Funds are distributed by Quasar Distributors, LLC.
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Angel Oak’s conversions bring new opportunities to advisors and investors seeking actively managed ETFs in structured credit and high yield.
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Angel Oak announced that the firm continues to find traction in its fast-growing ETF platform with the Angel Oak Income ETF (NYSE: CARY) crossing $100 million in AUM.
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Senior PM Clayton Triick moves to Head of Portfolio Management of Public Strategies as Angel Oak sets up investment management team for successful 2024.
The post Angel Oak Capital Advisors Names Namit Sinha as Chief Investment Officer appeared first on Angel Oak Capital Advisors, LLC..
Sumit Sasidharan will lead the firm’s CRE platform, focusing primarily on growing Angel Oak’s CRE fund offerings at an institutional level while also managing and expanding the firm’s permanent and bridge-loan financing solutions.
The post Angel Oak Capital Advisors Hires Institutional CRE Veteran, Sumit Sasidharan, to Lead and Expand Commercial Real Estate Lending and Vehicle Launches appeared first on Angel Oak Capital Advisors, LLC..
As of October 31, 2023The estimated short-term and long-term capital gains distributions for 2023 are listed below. Please note, these estimates are unaudited estimates based on 10/23/23 book numbers and are subject to vary significantly from the actual distribution amount once all actual activity through 10/31 and all tax adjustments are incorporated into the calculation. There will be no estimates provided for distributions attributable to net investment income.
Date of Record 12/20/23 Dividend Reinvestment Date 12/21/23
Ex-Dividend Date 12/21/23 Payable Date 12/21/23
| Fund Name | Share Class | CUSIP | Ticker | Short-Term Capital Gains | Long-Term Capital Gains | | --- | --- | --- | --- | --- | --- | | Angel Oak Financials Income Impact Fund | A | 03463K109 | ANFLX | $0.00000 | $0.00000 | | Angel Oak Financials Income Impact Fund | C | 03463K604 | AFLCX | $0.00000 | $0.00000 | | Angel Oak Financials Income Impact Fund | I | 03463K208 | ANFIX | $0.00000 | $0.00000 | | Angel Oak High Yield Opportunities Fund | A | 03463K703 | ANHAX | $0.00000 | $0.00000 | | Angel Oak High Yield Opportunities Fund | I | 03463K885 | ANHIX | $0.00000 | $0.00000 | | Angel Oak Income ETF | 03463K760 | CARY | $0.00807 | $0.00000 | | Angel Oak Multi-Strategy Income Fund | A | 03463K307 | ANGLX | $0.00000 | $0.00000 | | Angel Oak Multi-Strategy Income Fund | C | 03463K505 | ANGCX | $0.00000 | $0.00000 | | Angel Oak Multi-Strategy Income Fund | I | 03463K406 | ANGIX | $0.00000 | $0.00000 | | Angel Oak Strategic Credit Fund | I | 03463F109 | ASCIX | $0.00000 | $0.00000 | | Angel Oak Strategic Credit Fund | FI | 03466A108 | ASCNX | $0.00000 | $0.00000 | | Angel Oak Total Return Bond Fund | I | 03463K786 | AOIIX | $0.00000 | $0.00000 | | Angel Oak Ultra Short Income ETF | 03463K752 | UYLD | $0.02653 | $0.00000 | | Angel Oak UltraShort Income Fund | A | 03463K844 | AOUAX | $0.00000 | $0.00000 | | Angel Oak UltraShort Income Fund | A1 | 03463K778 | AOUNX | $0.00000 | $0.00000 | | Angel Oak UltraShort Income Fund | I | 03463K828 | AOUIX | $0.00000 | $0.00000 |
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The Angel Oak UltraShort Income ETF (NYSE: UYLD) has grown to more than $100 million in AUM in less than one year since its inception, reflecting the firm’s success in launching its ETF platform one year ago.
The post Angel Oak Capital Advisors’ UltraShort Income ETF Surpasses $100M in Assets in One Year, Sets Stage for ETF Platform Growth in 2024 appeared first on Angel Oak Capital Advisors, LLC..
Senior Portfolio Manager Cheryl Pate, CFA was named one of the “Women at the Forefront of Alternative Investments” in the second edition of iConnections’ report published in partnership with CPP Investments. This annual report is intended to showcase the array of female talent within the alternatives industry and the key role they play.
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Manmohan “Manu” Singh has been appointed group chief financial officer of Angel Oak Companies. He currently serves as managing director and head of corporate development at Angel Oak.
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The firm’s second actively managed exchange-traded fund will provide investors with the opportunity to invest primarily across U.S. structured credit with a strong bias toward residential mortgage credit.
The post Angel Oak Capital Advisors Launches Income ETF Focused on Residential Mortgage Credit Opportunities appeared first on Angel Oak Capital Advisors, LLC..
The estimated short-term and long-term capital gains distributions for 2022 are listed below.
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The firm’s first exchange-traded fund will provide investors with an opportunity to invest in short-duration structured credit assets and cashlike instruments that seek to provide higher yield without sacrificing credit quality.
The post Angel Oak Capital Advisors Debuts UltraShort ETF Focused on Structured Credit Opportunities appeared first on Angel Oak Capital Advisors, LLC..
PM Johannes Palsson explained that changing ANFIX to an ESG impact fund better reflects the team’s focus on investments that it believes have positive aggregate ESG impact outcomes.
The post Angel Oak Capital Advisors Announces Name Change and Updated Investment Strategy for Financials Income Fund appeared first on Angel Oak Capital Advisors, LLC..
Associate General Counsel Sidney Simms Jr. participated in a webinar with SEC Chairman Gary Gensler about the importance of diversity and inclusion in the financial services industry and Angel Oak’s experience completing the diversity self-assessment.
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Angel Oak Capital Advisors, a leading provider of fixed income investment solutions, is now formally a signatory of the Partnership for Carbon Accounting Financials (PCAF).
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Angel Oak Capital Advisors, a leading provider of structured credit investment solutions, is now formally a signatory of the Net Zero Asset Managers Initiative.
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The estimated short-term and long-term capital gains distributions for 2021 are listed below.
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Angel Oak Capital Advisors has hired Manmohan (“Manu”) Singh as head of insurance solutions to spearhead a range of initiatives focused on the insurance industry.
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Angel Oak Capital Advisors LLC announces that the firm’s flagship Angel Oak Multi-Strategy Income Fund (ANGLX) has crossed the 10-year mark, focused primarily on U.S. non-agency residential mortgage-backed securities launched following the 2007-08 financial crisis.
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The Fund will seek total return while giving special consideration to positive aggregate ESG impact.
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