Enhanced Taxable Municipal

Overview

The One Oak Taxable Enhanced Municipal Portfolio is a laddered, actively managed strategy that capitalizes on the idiosyncratic nature of the municipal market supplemented with exposure to corporate bonds. The portfolio consists of diverse, high credit quality bonds that seek a combination of attractive taxable income and total return.

Sector Allocation Target

As of June 30, 2022

40% - Gen. Obligation

20% - Sales Tax

15% - Water/Sewer

15% - Utilities

10% - Healthcare

Taxable Enhanced Municipal Portfolio

Strategy

Intermediate Taxable Total Return

Investment Quality

Investment-grade

Inception Date

August 2020

Alpha

0.44%

Beta

1.01

Sharpe Ratio

0.18

Standard Deviation

4.91%

Credit Quality Target

As of June 30, 2022

50% - AA

20% - AAA

20% - A

5% - BAA

5% - Cash

Performance

Taxable Enhanced Municipal Portfolio Net Returns

Year

2022

One Oak Net

Benchmark¹

2021

One Oak Net

Benchmark¹

2020

One Oak Net

Benchmark¹

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

YTD

ITD₂

-1.62%

-0.26%

-0.38%

-3.18%

-0.48%

-0.39%

-9.46%

0.71%

-1.95%

-0.54%

-4.34%

-3.36%

0.04%

-0.11%

-9.91%

-8.92%

0.76%

-0.20%

-0.32%

1.44%

0.86%

1.47%

0.93%

-0.08%

-0.58%

0.14%

0.68%

-0.20%

4.98%

11.23%

0.05%

-1.34%

-1.06%

0.96%

0.66%

0.62%

1.21%

-0.21%

-1.10%

-0.47%

0.31%

-0.30%

-0.71%

1.10%

1.07%

1.38%

-0.46%

2.20%

1.64%

5.95%

0.14%

0.40%

-0.76%

1.01%

1.03%

1.82%

¹Bloomberg Barclays Municipal Taxable Bonds 5-10 Yr Total Return Index

₂ITD - Inception-to-date is based on August 1, 2020

Composite Characteristics

Taxable Enhanced Municipal Portfolio

Avg. Coupon

3.42%

Duration Modified Adjusted

5.73 yrs

Avg. Maturity

8.80 yrs

Avg. Ratings

Trailing 12 Month Net Returns

-8.65%

Bloomberg Barclays Municipal Bond1

Avg. Coupon

3.55%

Duration Modified Adjusted

6.07 yrs

Avg. Maturity

7.40 yrs

Avg. Ratings

AA-

Trailing 12 Month Net Returns

-10.43%

1 Bloomberg Barclays Municipal Taxable Bonds 5-10 Yr Total Return Index

Factsheet

Enhanced Taxable Municipal Portfolio

June 30, 2022

Portfolio Managers

Neil Crabb, Keith Cronin & Michael DiTursi

Contact Information

ONE OAK CAPITAL MANAGEMENT

287 Bowman Avenue, 3rd Floor
Purchase, NY 10577

STEPHEN DITURSI, CEO/CIO

914-205-5821 sditursi@oneoakcapitalmgmt.com

Zepher's PSN * * Top Gun Award

One Oak Enhanced Taxable Municipal Portfolio was awarded a Zephyr's PSN Top Guns award for having a Top 10 return for the 1-year ending December 31, 2021, in the PSN Municipal Universe. The PSN Municipal Universe consists of 220 strategies, across 99 firms. PSN utilizes a proprietary of our clients' top priority performance screens. PSN Top Guns runs products in six proprietary star categories in over 50 universes. This is a highly anticipated quarterly ranking and is widely used by insitiutional asset managers and investors.

Municipal SMA Strategies