Angel Oak Financial Strategies Income Term Trust $(FINS)$ has reported strong performance for the period ending May 31, 2025. The Fund has outperformed its index on a 1-year, 3-year, 5-year, and since-inception basis. The recent rights offering, which was significantly oversubscribed, raised approximately $110.4 million in gross proceeds, enabling rapid capital deployment into higher-coupon bank debt. Despite volatility affecting specific equity and preferred equity positions, the Fund's NAV performance benefitted from the resumption of primary market bank debt issuance with meaningful volume. As of May 31, 2025, the Fund has narrowed its discount to 5.6%. The NAV performance mentioned is not indicated as an estimate.
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