Angel Oak Total Return ETF · NASDAQ:TRBF
Angel Oak Total Return ETF — Angel Oak Capital Advisors — Q3 2015 Earnings Presentation
16 slides from Angel Oak Total Return ETF's earnings presentation, Oct 22, 2015
Slide 1: Strategic Mortgage Income Fund 3Q 2015 Presentation
Strategic Mortgage Income Fund 3Q 2015 Presentation October 22nd, 2015 Nothing presented herein is intended to constitute investment advice and no investment decision should be made based on any information provided herein. For registered professional use only- not for distribution to the public
Slide 2: Firm Overview & Update
Firm Overview & Update INDEPENDENTLY OWNED, STABLE AND GROWING FIRM → 9/30/2015: $5.9 Billion in Assets Under Management → 48 Employees $5.9 B Feb ‘15: → Headquarters: Atlanta, GA Crossed Office: New York, NY $4.5 Billion $4.4 B in Mutual Fund Assets Nov ‘14: Aug ‘15: Successfully $3.2 B closed Debt
Slide 3: Home Loans: Highlights
Home Loans: Highlights Annual Closed Volume Closed Volume – Home$ense & Portfolio Select $500 20 $412 $16 $400 16 $350 $11.7 $12.1 12 $300 $241 8 $6.1 $200 $102 4 $100 $1.2 $5.8 0 $0 2013 2014 2015 2011 2012 2013 2014 2015 Home$ense Portfolio Select Licensed in 40 states with 14 branches Annual Empl
Slide 4: Mortgage Solutions: Highlights
Mortgage Solutions: Highlights Volume Closed Since Inception Units Closed Since Inception (Millions) Non-Prime Portfolio Select Non-Prime Portfolio Select $171 $180 670 800 600 $120 $103 441 400 $60 200 $1 6 $0 0 2013 2014 YTD September 2013 2014 YTD September 2015 2015 Number of States Licensed Num
Slide 5: Mortgage Market Opportunities
Mortgage Market Opportunities Legacy Non-Agency NPL/RPL Rent to Own Risk Transfer Non QM Whole Loans RMBS Newly originated Securities backed by Securities backed by Securities backed by residential 2003-2007 Vintage legacy pools of non- cash-flowing rental loss share mortgages to Overview non agency
Slide 6: SMIF Performance Snapshot
SMIF Performance Snapshot Performance Growth of $10,000 80% 18,000 69.66% 70% 66.57% 60% 16,000 50% 14,000 40% 30% 12,000 20% 14.45% 13.91% 10.52% 10% 10,000 2.59% 0% Annualized Rate of Return Cumulative Rate of Return SMIF S&P 500TR Barclays US Agg Bond TR USD SMIF Barclays US Agg. Jan Feb Mar Apr
Slide 7: Total Return vs. Volatility
Total Return vs. Volatility Since Inception Year to Date 16 8 SMIF S&P 500 14 6 12 4 SMIF 10 2 Total Return % Total Return % Barclays Agg. 8 0 High Yield 6 -2 High Yield 4 -4 Barclay's S&P 500 2 Agg. -6 0 -8 0 5 10 15 0 5 10 15 Standard Deviation % Standard Deviation % Source: Bloomberg & Morningsta
Slide 8: Legacy Non-Agency Security Holders
Legacy Non-Agency Security Holders 35% 30% 25% 20% 15% 10% 5% 0% Money Hedge Funds Banks/ Insurance GSE/FHLB Overseas Dealers REITs Managers Savings Inst/ Credit Unions 12/31/2011 12/31/2012 1/31/2013 12/31/2014 6/30/2015 Source: Nomura Angel Oak Capital Advisors, LLC 8
Slide 9: Portfolio Snapshot
Portfolio Snapshot Asset Class Allocation Non-Agency Collateral Type 32% Private CMO Prime CLO 29% 23% Alt-A 27% Resi Whole Loan 3% Option ARM 1% CMBS 14% 5% Subprime ABS Cash 43% Whole Loans 23% Diversified Liability Structure Contributed Capital - NAV Financing Term Total Size (%) Average Rate NAV
Slide 10: SMIF Historical Income
SMIF Historical Income 1.60% Avg. Gross Income 1.18% 1.40% 1.20% 1.00% 0.80% Avg. Net Income 0.99% 0.60% 0.40% 0.20% 0.00% Gross Income (NAV) Net Income (NAV) Angel Oak Capital Advisors, LLC 10
Slide 11: SMIF Allocation Changes
SMIF Allocation Changes 100% 75% 50% 25% 0% 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 Non-Agency RMBS Resi Whole Loans CLO CMBS ABS Cash Angel Oak Capital Advisors, LLC 11
Slide 12: Fixed Income Product Update
Fixed Income Product Update NA RMBS Whole Loans CLO CMBS Bank Sub Debt • Seasoned • New Issue • New Issue • New Issue • New Issue • Senior Tranche • A, BBB, BB mezz • A, BBB, BB mezz • A, BBB, BB mezz • BBB, BB, Un-Rated • Currently yielding • Currently yielding • Currently yielding • Currently yiel
Slide 13: Current Financial Condition of Banks
Current Financial Condition of Banks • Banks are at a different point in the economic cycle. 180 • In wake of the financial crisis, banks are more stable, due to higher capital requirements, 160 increased regulatory oversight and scrutiny, and enhanced loan underwriting standards. 140 • Asset qualit
Slide 14: Bank Sub Debt Overview
Bank Sub Debt Overview ANGEL OAK FAMILY OF COMPANIES Angel Oak Capital Angel Oak Angel Oak Angel Oak AOC Advisors Consulting Group Home Loans Mtg Solutions Securities AOCA is an investment AOCG provides a wide AOHL is a full-service AOMS offers non- AOC Securities management range of specialized mor
Slide 15: Disclosure
Disclosure PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. The information presented herein is being provided to you on a confidential basis with the assumption that you are a “sophisticated investor” able to understand and make decisions related to investing without the need to co
Slide 16: Angel Oak Capital Advisors contact details
Angel Oak Capital Advisors is located in Atlanta, GA and New York, NY. To learn more about the Angel Oak Funds, speak with a member of our investment team, receive monthly investor updates, or schedule a face-to-face meeting, please contact us at: Atlanta Office: New York Office: Angel Oak Capital A
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