Asset growth coincides with fund accomplishments, new headquarters
and promotion of key executives
ATLANTA–(BUSINESS WIRE)–Angel
Oak Capital Advisors, LLC, an investment management firm
specializing in value-driven alternative credit, announced today that
the firm has surpassed $10 billion in assets under management across its
platform of public funds, private funds and separately managed accounts.
In addition, the firm also holds one of the largest books (approximately
$3 billion) of servicing assets in the non-qualified mortgage market.
Crossing $10 billion in AUM coincides with other important milestones
and growth accomplishments for the firm, including adding talent and
continuing to establish itself as a clear leader in the structured
credit space.
“Since we founded Angel Oak Capital Advisors in 2008, the key to our
success has been a robust, team-based investment process designed to
deliver strong, risk-adjusted returns over a full credit cycle,” said
Sreeni Prabhu, Angel Oak’s co-CEO and Chief Investment Officer. “We are
always working to enhance our strategies and deliver new and unique
products to meet our growing investor demand.”
Alongside the firm’s AUM growth this year, Angel Oak also:
-
Successfully raised
$215 million in its first public closed-end fund offering, the
Angel Oak Financial Strategies Income Term Trust (NYSE: FINS), which
invests in the community bank debt sector. -
Completed its 9th and 10th non-qualified mortgage securitizations in
Q1 2019, continuing to lead the growth of the non-QM securitization
market. AOMT
2019-1 and AOMT
2019-2 were issued at a respective $609 million and $621 million.
Both transactions combined to make up 23% of the total Q1 2019 non-QM
securitization volume. -
Celebrated the one-year anniversary of the Angel
Oak UltraShort Income Fund (AOUIX). As of May 31, 2019, the Fund’s
one-year total return of 3.64%, versus 2.59% for the Morningstar
Ultrashort Bond Fund category, placed it in the top 2% of 193 funds in
that category. -
Surpassed the 10-year mark for the Angel
Oak High Yield Opportunities Fund (ANHIX). For the three- and
five-year periods ending May 31, 2019, the Fund delivered annualized
returns of 7.44% and 4.64%, respectively, outperforming its benchmark
by 0.40% and 0.24% on an annualized basis over the same time periods.
Additionally, Angel Oak announced the following executive promotions, to
enhance operational efficiencies and ensure effective management of
future growth:
-
Clayton Triick, CFA® and Colin McBurnette have been promoted to Senior
Portfolio Managers, and Cheryl Pate, CFA® has been promoted to a
Portfolio Manager. All three demonstrate the strong investment and
analytical skills Angel Oak requires, and have been important
contributors to the success of the firm’s strategies. -
David Silvera has been named Angel Oak’s Chief Operating Officer. He
will coordinate the firm’s non-investment functions in order to
support its investment performance, asset growth and organizational
excellence. -
Randy Chrisman becomes the firm’s Chief Marketing Officer. He will
continue to lead the firm’s marketing and public relations efforts,
while increasing his collaboration with the Angel Oak sales team. -
Lu Chang, CFA®, FRM, CAIA assumes the role of Chief Risk and
Operations Officer. She has overseen risk management efforts at Angel
Oak for four and a half years. Chang’s new duties will include
oversight of operations.
Along with executive promotions, Angel Oak Capital Advisors has been
steadily adding new employees across all departments. Over the past five
years, the firm has more than doubled the number of its associates from
36 to 73.
“We are fortunate to have skilled professionals from top to bottom,”
Prabhu said. “Our success is the result of their hard work, and we could
not be more proud of their efforts. As we look forward to the growth
opportunities ahead, Angel Oak Capital Advisors will continue to hire
and develop exceptional talent. We have clear goals for the future of
Angel Oak Capital, and I am confident in our team’s ability to
accomplish them.”
To accommodate its growing workforce, Angel Oak Capital Advisors moved
to an expanded, LEED certified headquarters as of June 3. The firm’s new
address is 3344 Peachtree Road NE, Suite 1725, Atlanta, GA 30326.
To learn more about Angel Oak Capital Advisors and the firm’s work in
specialized fixed-income markets, visit 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.
For more information, please visit www.angeloakcapital.com.
|
Angel Oak UltraShort Income Fund |
|||||||||||||
| Net Total Returns as of 3/31/19 | 3 Mo. | YTD | SI1 | ||||||||||
| AOUIX | 1.07% | 1.07% | 3.35% | ||||||||||
| 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% |
| AOUIX | ||||
| Gross Expense Ratio* | 0.78% | |||
| Net Expense Ratio* | 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.
|
Angel Oak High Yield Opportunities Fund |
||||||||||||||||||||||||
| Net Total Returns as of 3/31/19 | 3 Mo. | YTD | 1 Year | 3 Years | 5 Years | 10 Years | ||||||||||||||||||
| ANHIX | 7.18% | 7.18% | 5.08% | 8.75% | 5.05% | 9.09% | ||||||||||||||||||
| Bloomberg Barclays U.S. Corporate High Yield Bond Index | 7.26% | 7.26% | 5.93% | 8.56% | 4.68% | 11.26% |
| ANHIX | ||||
| Gross Expense Ratio* | 1.00% | |||
| Net Expense Ratio* | 0.65% |
*The Adviser has contractually agreed to waive fees through 5/31/20.
The
inception date of the Angel Oak High Yield Opportunities Fund I Class
(ANHIX) was 3/31/09.
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.
Investing involves risk. Principal loss is possible. The Funds’
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
Funds 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 the Funds’ risks.
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 are 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.
Quasar Distributors, LLC, is the distributor for the series of Angel Oak
Funds Trust and the Angel Oak Strategic Credit Fund.
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 are in 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.
Contacts
Media Contact:
Alex Nye
Gregory
FCA for Angel
Oak Capital Advisors
Email: [email protected]
Office:
610-228-2287
Company Contact:
Randy Chrisman
Chief Marketing Officer
at Angel
Oak Capital Advisors
Email: [email protected]
Office:
404-953-4969
