AOUIX ranks in top 1% in its peer group, highlighting firm’s
expertise in structured credit
ATLANTA–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24AOUIX&src=ctag” target=”_blank”gt;$AOUIXlt;/agt;–Angel
Oak Capital Advisors, LLC (Angel Oak), is pleased to announce that
the Angel
Oak UltraShort Income Fund (AOUIX) celebrated its one-year
anniversary on April 2, 2019. As of April 30, its one-year total return
of 3.53%, versus 2.50% for the Morningstar Ultrashort Bond Fund
category, places it in the top 1% of 196 funds in that category based on
total return. The Fund’s benchmark, the Bloomberg Barclays 9-12 Month
U.S. Treasury Bill Index, returned 2.54% over the same time period.
Since the Fund’s April 2, 2018, inception through April 30, 2019, it has
delivered an impressive annualized return of 3.56% compared to 2.42% for
its benchmark.
The Fund’s standout performance has helped it grow to over $160 million
in assets.
Through its unique approach to structured credit investing, the Fund
offers the potential for a significant yield advantage for short-term,
liquid assets. The Fund invests in Angel Oak’s best ideas in U.S.
credit, primarily structured credit, to meet the Fund’s primary
objective of seeking to provide current income while seeking to minimize
price volatility and maintain liquidity. The average rate duration of
assets in the Fund is also maintained under one year, while the average
effective maturity is maintained at under two years.
“Since its inception, the Angel Oak UltraShort Income Fund has seen
tremendous growth and delivered strong results. We are most pleased with
the stability of the Fund’s NAV during the more elevated period of
volatility in Q4 2018, helping to illustrate the potential benefits of
utilizing structured credit for short-duration, fixed-income investing.
We believe our deep knowledge of structured credit can provide investors
with a terrific alternative to other offerings in the ultrashort bond
fund space,” said Clayton Triick, CFA®, Lead Portfolio
Manager for AOUIX.
AOUIX has a management team similar to that of the Angel
Oak Multi-Strategy Income Fund (ANGIX), which also focuses on
structured credit, with a heavy emphasis on non-agency RMBS and CMBS.
ANGIX has approximately $7.6 billion in assets under management as of
April 30, 2019.
“We have a proven track record of success and have developed a
reputation as the leader in structured credit. Our team’s expertise in
this segment of fixed-income investing has allowed us to create an
ultrashort bond fund that we believe is truly differentiated from
others,” said Sreeni Prabhu, Angel Oak’s co-CEO and Chief Investment
Officer.
The Fund is available on a variety of major platforms, including Schwab,
Fidelity, TD Ameritrade, UBS, and LPL.
For more information on the Angel Oak UltraShort Income Fund, please
contact investor relations at 888-685-2915 or visit www.angeloakcapital.com.
About Angel Oak Capital Advisors, LLC
Angel Oak Capital Advisors is an investment management firm focused on
providing compelling fixed income investment solutions for 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.
As of March 31, 2019, Angel Oak Capital Advisors had approximately $9.8
billion in assets under management through a combination of public
funds, private funds, and separately managed accounts.
For more information, please visit www.angeloakcapital.com.
Weighted Average Effective Maturity: The average time to maturity
of debt securities held in the fund.
Bloomberg Barclays 9-12 Month U.S. Treasury Bill Index: Measures
the performance of U.S. Treasury bills, notes, and bonds with a
remaining maturity between 9-12 months. The index does not include
trading and management costs.
Effective Duration: Measures a portfolio’s sensitivity to changes
in interest rates. Generally, the longer the effective duration, the
greater the price change relative to interest rate movements.
| Net Total Returns as of 3/31/19 | 3 Mo. | YTD | SI1 | ||||||
| Class I | 1.07% | 1.07% | 3.35% | ||||||
| Class A | 1.11% | 1.11% | 3.21% | ||||||
| Bloomberg Barclays 9-12 Month U.S. Treasury Bill Index | 0.81% | 0.81% | 2.42% | ||||||
| Morningstar Ultrashort Bond Fund Category | 1.02% | 1.02% | 2.39% |
| A Shares | I Shares | |||||
| Gross Expense Ratio* | 0.86% | 0.61% | ||||
| Net Expense Ratio* | 0.50% | 0.25% | ||||
*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
5/31/20. In addition, the Adviser has voluntarily agreed to limit these
expenses to 0.25%; this expense limit is applicable to current investors.
1The inception date of the Angel Oak UltraShort
Income Fund I Class (AOUIX) was 4/2/18, while the inception date of the
A Class (AOUAX) was 4/30/18.
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 and may be obtained by calling 855-751-4324.
The Morningstar UltraShort Bond Fund Category Average represents an
average of all of the funds in the Morningstar UltraShort Bond Fund
Category.
Morningstar Rankings represent a fund’s total-return percentile rank
relative to all funds that have the same Morningstar Category. The
highest percentile rank is 1 and the lowest is 100. It is based on
Morningstar total return, which includes both income and capital gains
or losses and is not adjusted for sales charges or redemption fees.
Investors should carefully consider the investment objectives, risks,
charges and expenses of the Angel Oak Mutual Funds. This and other
important information about each Fund is contained in the Prospectus or
Summary Prospectus for each Fund, which can be obtained by calling
Shareholder Services at 855-751-4324. The Prospectus or Summary
Prospectus should be read and carefully considered before investing.
Investing involves risk. Principal loss is possible. 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. 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. See the prospectus for a more
detailed description of Fund risks.
It is not possible to invest directly in an index.
The Angel Oak Funds are distributed by Quasar Distributors, LLC.
Contacts
Media Contact:
Alex Nye
Gregory
FCA for Angel
Oak Capital Advisors
[email protected]
610-228-2287
Company Contact:
Randy Chrisman
Chief Marketing Officer
at Angel
Oak Capital Advisors
[email protected]
404-953-4969
