Angel Oak Financial Strategies Income Term Trust · NYSE:FINS
Angel Oak Financial Strategies Income Term Trust — Angel Oak Multi-Strategy Income Fund — Q2 2019 Earnings Presentation
7 slides from Angel Oak Financial Strategies Income Term Trust's earnings presentation, Jun 30, 2019
Slide 1: Angel Oak Multi-Strategy Income Fund Quarterly Review
ANGLX | ANGIX | ANGCX Angel Oak Multi-Strategy Income Fund Quarterly Review June 30, 2019
Slide 2: Quarter in Review
Quarter in Review • U.S. risk assets were volatile in the second quarter as trade tensions with China and Mexico dominated the headlines; however, a more dovish Federal Open Market Committee Quarterly Benchmark Performance 6/30/19 3/31/19 (FOMC) sparked a rally in equities and credit in the last mon
Slide 3: Fundamentals = Scenario Improvement
Fundamentals = Scenario Improvement Single-Family Inventory as % of Total Households Home Prices Continue to Improve 4.0% 240 S&P/Case-Shiller 20-City Home Price Index Total Inventory 220 3.5% 200 3.0% 180 2.5% 160 2.0% 140 1.5% 120 1.0% 100 Source: Morgan Stanley as of 9/30/18. Source: Bloomberg as
Slide 4: Portfolio Performance
Portfolio Performance Summary FUND INFORMATION AS OF 6/30/19 The Fund was up 1.61% in the second quarter, underperforming the benchmark by 1.47%, which was up 3.08%. For 2019, the Fund is up 2.93% through June, underperforming the benchmark by 3.18%, as the Class A Class I Bloomberg Barclays U.S. Ag
Slide 5: Sector Attribution
Sector Attribution Q2 2019* YTD 2019* % of Market Value Attribution (%) Attribution (%) RMBS 66.8 1.31 2.31 CMBS 9.8 0.15 0.29 CLOs 9.2 0.16 0.37 Corporates 6.2 0.15 0.30 ABS 4.6 0.06 0.12 Cash 3.4 0.02 0.03 Credit Hedges - 0.00 0.00 Fund Expenses - -0.25 -0.49 Total 100.0 1.61 2.93 Fund holdings an
Slide 6: Definitions
Definitions Basis Point (bps): One hundredth of one percent and is used to denote the percentage change in a financial instrument. Bloomberg Barclays U.S. Aggregate Bond Index: An unmanaged index that measures the performance of the investment-grade universe of bonds issued in the United States. The
Slide 7: Disclosures
Disclosures Mutual fund investing involves risk; principal loss is possible. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower-rated and nonrated securities present a greater risk of loss to
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