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Angel Oak Multi-Strategy Income Fund

Fact Sheet Prospectus Fund Alerts

Total Assets

$2.8B

As of 9/30/24
Multi-Strategy Income Fund
Fact Sheet

Overview

The Fund seeks the best risk-adjusted opportunities in fixed income that offer the potential for both stable income and price appreciation. The team employs a top-down approach to identify relative value opportunities within the structured credit markets and a bottom-up credit selection process to select individual issues. The managers will invest opportunistically across a wide range of credits and issuer types based on relative value within fixed income.

Specifically, the Fund targets opportunities in:

  • Agency and Non-Agency Residential Mortgage-Backed Securities (RMBS)
  • Agency and Non-Agency Commercial Mortgage-Backed Securities (CMBS)
  • Collateralized Loan Obligations (CLO)
  • Asset-Backed Securities (ABS)
  • Treasuries
  • Corporates

Objective

The investment objective of the Angel Oak Multi-Strategy Income Fund is current income.

Yields

As of date
Daily Distribution Yield5.02%11/21/24
30-Day SEC
Subsidized		5.50%10/31/24
30-Day SEC
Unsubsidized		5.50%10/31/24

Performance

Total Returns

The inception date of the Angel Oak Multi-Strategy Income Fund A Class (ANGLX) was 6/28/11, while the inception of the C Class (ANGCX) was 8/4/15. The returns of ANGCX shown for periods prior to the inception date include the returns of ANGLX and are adjusted to reflect the operating expenses of ANGCX.

Annual Returns

Performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment in the Fund 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 what is stated.
NAV represents annualized returns without a sales charge. MOP represents annualized returns with the maximum sales charge. Maximum Contingent Deferred Sales Charge (load) as a % of amount redeemed: Class C shares are subject to a CDSC of 1.00% if you redeem your shares within twelve (12) months of purchase, based on the lower of the shares’ cost or current net asset value.

The inception date of the C Class (ANGCX) was 8/4/15. The returns of ANGCX shown for periods prior to the inception date include the returns of ANGLX and are adjusted to reflect the operating expenses of ANGCX.
Bloomberg U.S. Aggregate Bond Index: Calculated from inception date of Class A.

Fund Statistics

Distributions

*Due to our annual tax review, there was additional earned income that was required to be paid out prior to the calendar year end.

Portfolio

Sector Breakdown

Other includes investments in affiliated funds, common and preferred equity, and collateralized debt obligations. Agency MBS includes wrapped only bonds.

Credit Type

The portfolio is actively managed. Holdings and weightings are subject to change daily and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned. Fund composition is based on net assets.

Fund Characteristics

Fund Information

Gross expense ratios are reported as of the 5/30/24 prospectus and the net expense ratios are reported as of the 1/31/24 Annual Report. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.99% of the Fund’s average daily net assets through 5/31/25.

Management Team

Sreeni Prabhu

Managing Partner, Co-CEO & Group Chief Investment Officer

Namit Sinha

Chief Investment Officer

Clayton Triick, CFA®

Head of Portfolio Management, Public Strategies

Berkin Kologlu

Senior Portfolio Manager

Kin Lee

Senior Portfolio Manager

Recent Insights

3Q24 Multi-Strategy Income Fund Commentary

   

Read commentary

Documents

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Any views expressed on the site you are about to visit, or any articles or interviews therein are those of the participants and are not intended as a forecast or as investment recommendations. Information provided with respect to the Fund’s Portfolio Holdings, Sector Weightings, Number of Holdings, Performance and Expense Ratios are as of the dates described in the article and are subject to change at any time.

 

High Yield Opportunities ETF Prospectus 

Income ETF Prospectus

Mortgage-Backed Securities ETF Prospectus

Multi-Strategy Income Fund Prospectus

Strategic Credit Fund Prospectus

UltraShort Income ETF Prospectus

UltraShort Income Fund Prospectus

 

Return to the Angel Oak Website to access standardized performance or recent portfolio holdings or positions (High Yield Opportunities ETF Performance, Income ETF Performance, Mortgage-Backed Securities ETF Performance, Multi-Strategy Income Fund Performance, Strategic Credit Fund Performance, UltraShort Income ETF Performance, UltraShort Income Fund Performance).

 

Important Social Media Disclosures

 

Performance data current to the most recent month-end and quarter-end can be obtained by clicking the links above.

Past performance is no guarantee of future results. The investment return and principal value of an investment in the Fund 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 what is stated.

 

Investing involves risk. Principal loss is possible. Some Funds can make short sales of securities, which involves the risk that losses in securities may exceed the original amount invested. Leverage, which may exaggerate the effect of any increase or decrease in the value of securities in a Fund’s portfolio, may increase the volatility of a Fund. Investments in foreign securities involve greater volatility and political, economic, and currency risks and differences in accounting methods. These risks are increased for emerging markets. Investments in fixed income instruments typically decrease in value when interest rates rise. 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. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of, such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities do. A non-diversified fund may be more susceptible to being adversely affected by a single corporate, economic, political, or regulatory occurrence than a diversified fund. Funds will incur higher and duplicative costs when it invests in mutual funds, ETFs, and other investment companies. There is also the risk that the Funds may suffer losses due to the investment practices of the underlying funds. For more information on these risks and other risks of the Funds, 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.

 

There is no guarantee that this or any investment strategy will succeed; the strategy is not an indicator of future performance; and investment results may vary.

References to other mutual funds should not be interpreted as an offer of these securities.

Fund holdings and allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.

Diversification does not guarantee a profit or protect from loss in a declining market.

Indexed annuities are complex, not suitable for all investors, and due to surrender charges it is possible to lose money.

Upside potential may be limited due to participation rates.

The Angel Oak Funds are distributed by Quasar Distributors, LLC.

 

 

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