Angel Oak Dynamic Financial Strategies Income Term Trust (DYFN) is a non-diversified, closed-end management investment company that seeks current income with a secondary objective of total return. The Fund primarily invests in securities of U.S. issuers, employing a banking sector debt-centric strategy focused on community bank debt investments; at least 50% of the portfolio consists of publicly rated investment grade debt or unrated debt deemed investment grade quality by its investment adviser, Angel Oak Capital Advisors, LLC; the strategy targets high-quality credit with low historical correlations to broader market areas and interest rates. It operates within the asset management industry, serving income-oriented investors through monthly distributions, and is listed on the New York Stock Exchange under the ticker DYFN.
The Trust, which commenced operations around 2019, is headquartered in Atlanta, Georgia, at 3344 Peachtree Road NE, Suite 1725. Angel Oak Capital Advisors, founded in 2008 and based in the same location, provides investment advisory services; the firm manages approximately $25.1 billion in assets under management as of September 30, 2025, across structured credit, mortgage-backed securities, and alternative credit strategies.
In a major reorganization completed on August 1, 2022, Angel Oak Dynamic Financial Strategies Income Term Trust merged with and into Angel Oak Financial Strategies Income Term Trust (FINS), transferring all assets in exchange for newly issued FINS shares, though DYFN continues to reference its legacy strategy in certain contexts. More recently, in October 2025, Brookfield acquired a majority stake in Angel Oak Companies, LP (parent of the Adviser), integrating Angel Oak's residential mortgage credit capabilities into Brookfield's $332 billion credit platform while preserving operational independence, day-to-day management, and investment processes; this prompted shareholder approval of a new investment advisory agreement in September 2025 to address the change in control. The Fund declared a December 2025 distribution of $0.115 per share, payable December 31, 2025, reflecting ongoing efforts to enhance liquidity and narrow its trading discount to net asset value.