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Address And Details

One Buckhead Plaza, 3060 Peachtree Rd.NW Ste , Atlanta, GA 30305
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

The investment objective of the Angel Oak Multi-Strategy Income Fund (the Fund) is current income. The Fund invests primarily in mortgage-backed and other asset-backed fixed income securities, including securities backed by assets such as credit card receivables, student loans, automobile loans and residential and commercial real estate. The Funds allocation of its assets into various asset classes within its investment strategy will depend on the views of Angel Oak Capital Advisors, LLC (the Adviser), the investment adviser to the Fund, as to the best value relative to what is currently presented in the marketplace. In selecting investments, the Adviser may consider maturity, yield and ratings information and opportunities for price appreciation among other criteria. The Adviser may sell investments if it determines that any of the mentioned factors have changed materially from its initial analysis or that other factors indicate that an investment is no longer earning a return commensurate with its risk or that a different security will better help the Fund achieve its investment objective. From time to time, the Fund may allocate its assets so as to focus on particular types of asset-backed fixed income securities . Currently, the Adviser anticipates focusing the Funds investments on non-agency, residential mortgage-backed securities (RMBS). Residential mortgage loans are generally classified into three categories based on the risk profile of the borrower and the property: (i) Prime, (ii) Alternative-A (Alt-A), and (iii) Subprime. Prime residential mortgage loans are extended to borrowers who represent a relatively low risk profile through a strong credit history. Subprime loans are made to borrowers who display poor credit histories and other characteristics that correlate with a higher default risk. Alt-A loans are made to borrowers whose risk profile falls between Prime and Subprime. When selecting RMBS investments for the Fund, the Adviser intends to focus on RMBS that are collateralized by pools of Prime or Alt-A mortgages and that are seasoned (i.e., have a history of timely payments) (these securities are also known as collateralized mortgage obligations or CMOs. Prime mortgage loans may be either agency or non-agency. Agency loans have balances that fall within the limits set by the Federal Housing Finance Agency (FHFA) and qualify as collateral for securities that are issued by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac). Non-agency loans have balances that may or may not fall within the limits set by FHFA and do not qualify as collateral for securities that are issued by Ginnie Mae, Fannie Mae or Freddie Mac, and are sponsored by private companies other than government sponsored enterprises (sometimes referred to as private label paper). Under normal circumstances, the Fund will concentrate its investments (i.e., invest more than 25% of its total assets (measured at the time of purchase)) in residential mortgage-backed securities (agency and non-agency) and commercial mortgage-backed securities. The Fund may also invest up to 20% of its net assets in collateralized loan obligations (CLOs), which are backed by a pool of loans. The Fund may also invest in collateral debt obligations (CDOs), which may be backed by a pool of debt. CLOs and CDOs are similar to CMOs, but differ as to the type of underlying loan or debt. CLOs, CDOs, and CMOs and other securitizations may be referred to as Structured Products. The Adviser analyzes a variety of factors when selecting investments for the Fund, such as collateral quality, credit support, structure and market conditions. The Adviser attempts to diversify risks that arise from position sizes, geography, ratings, duration, deal structure and collateral values. The Adviser will also seek to invest in securities that have relatively low volatility. The Adviser seeks to limit risk of principal by targeting assets that it considers undervalued. The Fund may also make direct investments in mortgage loans . The Fund may also invest in the securities of other investment companies (including those that are part of the same group of investment companies as the Fund) that invest primarily in fixed income securities. The Fund may invest, without limitation, in corporate debt securities of any quality and maturity, including high-yield securities (also known as junk bonds), and securities that are not rated by any rating agencies. In selecting debt investments, the Adviser may consider maturity, yield, and ratings information and opportunities for price appreciation.

Net Asset Value

as of 6:07 PM ET 01/14/2022

Performance

  • 1 Week
  • -0.10%
  • 1 Month
  • -0.59%
  • 3 Months
  • -1.26%
  • 1 Yr Return
  • -0.97%
  • 5 Yr Return
  • -8.95%

Equity Sector Breakdown

ConsumerDurables n/a
Energy n/a
Finance n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Bonds 100.10%
Cash 3.24%
Preferred 0.28%
Stocks 0.21%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Other -3.84%
Total Net Assets 72.43 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -1.80 -0.03 n/a
Beta 0.69 0.51 n/a
R Squared 0.07 0.05 n/a
Std Deviation 8.58 6.65 n/a
Sharpe Ratio 0.10 0.19 n/a

Purchase Information

as of 6:23 PM ET 01/13/2022
Minimum Initial $1000
Minimum Additional $100
Minimum Initial IRA $1000

Performance

Timeframe Average Annual Current Performance Monthly As Of 12/31/2021 Average Annual Current Performance Quarterly As Of 12/31/2021 Avg Annual Current Performance Monthly As Of 12/31/2021 Avg Annual Current Performance Quarterly As Of 12/31/2021
1 Year
  • +3.12%
  • +3.12%
+3.12% +3.12%
3 Year
  • +1.42%
  • +1.42%
+1.42% +1.42%
10 Year
  • n/a
  • n/a
n/a n/a
Life Of Fund
  • +1.94%
  • +1.94%
+1.94% +1.94%

Top 10 Holdings

Symbol Company Name % Of Assets
n/a

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