ATLANTA--(BUSINESS WIRE)--Angel Oak Financial Strategies Income Term Trust (the “Fund”), a closed-end fund traded on the New York Stock Exchange under the symbol FINS, today declared a distribution of $0.1010 per share for the month of October 2020. The record date for the distribution is October 16, 2020, and the payable date is October 30, 2020. The Fund will trade ex-distribution on October 15, 2020.
The Fund seeks to pay a distribution at a rate that reflects net investment income actually earned. A portion of each distribution may be treated as paid from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain, or return of capital. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to shareholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income. The final determination of the source and tax characteristics of these distributions will depend upon the Fund’s investment experience during its fiscal year and will be made after the Fund’s year end. The Fund will send to investors a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes.
Led by Angel Oak’s experienced financial services team, FINS invests predominantly in community bank debt as well as selective opportunities in nonbank financial services debt. Under normal circumstances, at least 50% of FINS’ depository institution debt investments are publicly rated investment grade or, if unrated, scored as investment grade by Angel Oak.
ABOUT ANGEL OAK CAPITAL ADVISORS, LLC
Angel Oak Capital Advisors is an investment management firm focused on providing compelling fixed-income investment solutions to 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.
Information regarding the Fund and Angel Oak Capital Advisors can be found at www.angeloakcapital.com.
Past performance is neither indicative nor a guarantee of future results. Investors should consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. For more information please contact your investment representative or Destra Capital Investments LLC at 877.855.3434.
© 2020 Angel Oak Capital Advisors, which is the investment adviser to the Angel Oak Financial Strategies Income Term Trust.