Angel Oak Capital Advisors announced that its Angel Oak Strategic Credit Fund (ASCIX) has surpassed $100 million in assets under management. The interval fund, which invests primarily in non-agency residential mortgage-backed securities and other asset-backed securities, has delivered compelling risk-adjusted returns over its six-year lifespan. The fund's strategy includes a distinct overweight to strategic credit assets, offering diversification not typically found in traditional fixed-income funds.
As of June 30, 2024, ASCIX reported a year-to-date return of 6.38% and a 1-year return of 12.93%, outperforming the Bloomberg U.S. Aggregate Bond Index. The interval fund structure has proven advantageous during economic fluctuations, allowing the fund to invest in higher-yielding positions while managing liquidity and redemption risks.