The Fund primarily seeks to provide current income, with positive environmental, social, governance and capital appreciation as supporting strategies. The goal of the Fund is to maximize long-term risk-adjusted returns relative to the market with an emphasis on minimizing downside risk. The Fund is diversified and invests principally in high-yield corporate bonds rated below investment grade. The Fund may purchase bonds of any maturity, but will normally have a dollar-weighted average maturity between two and fifteen years. The Fund is managed against the Bloomberg U.S. Corporate High Yield Index.
Total Assets
$65.4M
As of 9/30/22High Yield Opportunities Fund
Overview
Objective
The investment objective of the Angel Oak High Yield Opportunities Fund is to earn a high level of current income with a secondary objective of capital appreciation.
As of 11/30/22
30-Day SEC Yields
| Subsidized | 7.20% |
|---|---|
| Unsubsidized | 6.94% |
Performance
Total Returns
The inception date of the Angel Oak High Yield Opportunities Fund (ANHIX) I Shares was 3/31/09.
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.
The inception date of the Angel Oak High Yield Opportunities Fund I Class (ANHIX) was 3/31/09.
Growth Of $10,000 Since Inception
This chart illustrates the performance of a hypothetical $10,000 investment made in Angel Oak High Yield Opportunities Fund (ANHIX) I Class. The inception date of the Angel Oak High Yield Opportunities Fund I Class (ANHIX) was 3/31/09. It assumes reinvestment of capital gains and dividends. This chart is not intended to imply any future performance.
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
Credit Quality
Unrated consists of corporate bonds that do not have ratings. Total may not equal 100% due to rounding. Ratings determined by S&P and Moody’s.
Bond ratings are grades given to the bonds to indicate their credit quality as determined by rating agencies including, but not limited to, S&P and Moody’s. The firm evaluates a bond issuer’s financial strength, or its ability to pay a bond’s principal and interest in a timely fashion. Ratings are expressed as letters ranging from AAA, which is the highest grade, to D, which is the lowest grade. In limited situations, when a rating agency has not issued a formal rating, the adviser will classify the security as nonrated.
Top 10 Sectors
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. Please scroll down to see important information about the Fund.
Fund Characteristics
Fund Information
Gross expense ratios are reported as of the 5/31/22 prospectus. The net expense ratios are reported as of the 1/31/22 Annual Report and are referenced in the 5/31/22 prospectus. The Adviser has contractually agreed to waive fees through 5/31/23.