ATLANTA--(BUSINESS WIRE)--Angel Oak Capital Advisors (Angel Oak) has recently hired Nichole Hammond, CFA®, as co-portfolio manager of its High Yield Opportunities Fund (“ANHIX” or the “Fund”).
Hammond will co-manage the High Yield Opportunities Fund alongside Portfolio Manager Matthew Kennedy, CFA®, in Angel Oak’s Seattle office. Hammond joins Angel Oak with over 17 years of investment management experience. Most recently, she led research and portfolio positioning for the global banking and finance sector of Wells Capital Management’s Montgomery Core Fixed Income team, managing over $30 billion. Hammond was responsible for conducting in-depth credit research and developing relative value-based trading strategies for the corporate bond portfolios. Prior to joining Wells, Hammond worked as a credit research analyst for the investment grade portfolio at GE Financial Assurance.
“We are thrilled to have Nichole join the Angel Oak High Yield team. She brings deep expertise analyzing credit, and her conservative credit perspective aligns nicely with our focus and the Angel Oak culture,” said Kennedy.
Angel Oak’s High Yield Opportunities Fund has the flexibility to invest across a wide array of high yield securities, including corporate bonds and collateralized loan obligations. The Fund is managed with a diversified, relative value approach and is designed with a focus on managing risk. The Fund seeks to better withstand drawdowns in fixed income and deliver strong risk-adjusted returns over a full market cycle by emphasizing higher credit quality and lower duration securities. Additionally, the Fund takes a nimble approach, capable of moving in and out of high yield securities and opportunities quickly as market conditions change.
As of Sept. 30, 2017, the performance for ANHIX over the last one, three and five years has been exceptional with annualized returns of 9.37%, 6.15% and 6.22%, respectively. ANHIX has delivered an annualized return of 10.01% since its March 31, 2009 inception.
“The U.S. is well-positioned for growth based on improvements in unemployment and GDP numbers,” added Kennedy. “We also see continued potential from synchronized global growth, which supports the outlook for revenue and earnings performance of high yield issuers. High yield has performed very well over the past few years but remains attractive relative to valuations for other risk assets.”
Current performance may be lower or higher than the performance data quoted. Performance quoted is past performance and 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 to the most recent month end can be obtained by calling 855-751-4324. The gross expense ratio of ANHIX is 1.08%.
For more information on the High Yield Opportunities Fund (ANHIX), please contact Investor Relations at 888-685-2915 or visit http://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 and corporate credit.
As of Sept. 30, 2017, Angel Oak Capital had approximately $7.4 billion in assets under management across its mutual funds, private funds and separately managed accounts.
For more information, please visit www.angeloakcapital.com
Duration: Measures a portfolio’s sensitivity to changes in interest rates. Generally, the greater the duration, the greater the price change relative to interest rate movements.
You should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. This and other important information is contained in the Fund's summary and statutory prospectus, which can be obtained by calling 855-751-4324 or visiting www.angeloakcapital.com. Read it carefully before investing.
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 non-rated securities present a greater risk of loss to principal and interest than higher rated securities. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments. Derivatives may involve certain costs and risks such as illiquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. The Fund may make short sales of securities, which involves the risk that losses may exceed the original amount invested. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods.
Diversification does not guarantee a profit or protect from loss in a declining market.
The Angel Oak High Yield Opportunities Fund is distributed by Quasar Distributors, LLC.
