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Angel Oak Total Return Bond Fund

Fact Sheet Prospectus Fund Alert

Total Assets

$32.4M

As of 9/30/23
Total Return Bond Fund
Fact Sheet

Overview

The Angel Oak Total Return Bond Fund seeks a competitive total return with income as a secondary focus. In addition, it seeks outperformance relative to the aggregate bond market over a full market cycle.

Key Benefits

Angel Oak Expertise
Angel Oak utilizes its expertise in securitized credit and other aspects of the fixed income market to seek diversification and to target outperformance versus core bond indices.

Diversification
Angel Oak seeks to create a diversified portfolio of government, corporate, and securitized markets with a tactical allocation to high yield corporates.

Dynamic Allocation
The strategy could overweight segments of the fixed income market that have tended to outperform over time, such as securitized and corporate credit, in order to deliver outperformance to broad core benchmarks. Angel Oak aims to dynamically change exposure to those portions of the market depending on the investment team’s view and opportunity set.

Strategic Allocation to Securitized Credit
The Fund aims to maintain a strategic allocation to securitized credit, which offers the potential for outperformance versus the benchmark as many sectors of securitized credit have illustrated higher yields historically than government bonds and Treasuries.

Tactical Allocation to High Yield
The Fund aims to have a tactical allocation to sectors of high yield corporate credit with an aim to diversify the portfolio and potentially enhance returns.

Nimble Fund
Angel Oak believes that efficiently sized strategies have the potential to outperform the peer group by being nimble and having the ability to quickly move duration and credit exposure based on market opportunities.

Objective

The Angel Oak Total Return Bond Fund seeks total return.

Yields

As of date
Daily Distribution Yield4.44%12/07/23
30-Day SEC
Subsidized		4.76%11/30/23
30-Day SEC
Unsubsidized		4.09%11/30/23

Performance

Total 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 Total Return Bond Fund I Class (AOIIX) was 6/4/21.

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. Short-term performance, in particular, is not a good indication of the Fund’s future performance and an investment should not be made based solely on returns. Performance is net of fees.

The inception date of the Angel Oak Total Return Bond Fund I Class (AOIIX) was 6/4/21.

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

Strategy Allocation

Credit Quality

The Fund may invest, without limitation, in securities of any quality and maturity.

Bond ratings are grades given to bonds that indicate their credit quality as determined by a private independent rating service such as Standard & Poor’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 the rating agency has not issued a formal rating, the Adviser will classify the security as nonrated.

Fund Characteristics

Fund Information

Gross and net expense ratios are reported as of the 5/31/23 prospectus. The Adviser has contractually agreed to waive its fees to limit the Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement to 0.44% of the Fund’s average daily net assets through 5/31/24.

Management Team

Sam Dunlap

Chief Investment Officer, Public Strategies

Nichole Hammond, CFA®

Senior Portfolio Manager

Matthew Kennedy, CFA®

Senior Portfolio Manager

Colin McBurnette

Senior Portfolio Manager

Clayton Triick, CFA®

Senior Portfolio Manager

Recent Insights

3Q23 Total Return Bond 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.

 

Financials Income Impact Fund Prospectus

High Yield Opportunities Fund Prospectus

Income ETF Prospectus

Multi-Strategy Income Fund Prospectus

Strategic Credit Fund Prospectus

Total Return Bond 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 (Financials Income Impact Fund Performance, High Yield Opportunities Fund Performance, Income ETF Performance, Multi-Strategy Income Fund Performance, Strategic Credit Fund Performance, Total Return Bond 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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