N-2 | 6 Months Ended |
Jul. 31, 2023 $ / shares shares |
Cover [Abstract] | |
Entity Central Index Key | 0001716885 |
Amendment Flag | false |
Document Type | N-CSRS |
Entity Registrant Name | Angel Oak Strategic Credit Fund |
General Description of Registrant [Abstract] | |
Investment Objectives and Practices [Text Block] | The investment objective of Angel Oak Strategic Credit Fund is to seek total return. |
Risk Factors [Table Text Block] | NOTE 3. RISKS ASSOCIATED WITH PORTFOLIO ASSETS Mortgage-Backed and Asset-Backed Securities Risks: Prepayment associated Subordinated Debt of Banks and Diversified Financial Companies: Structured Products: Futures Contracts: During the period a futures contract is open, changes in the value of the contract are recognized as unrealized gains or losses by “marking-to-market” correlation between the value of the instruments and the underlying securities, or that the counterparty will fail to perform its obligations. Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded. Should market conditions move unexpectedly, the Fund may not achieve the anticipated benefits of the futures contract and may realize a loss. See Note 4 for information on futures contract activity during the period ended July 31, 2023. Common and Preferred Stocks: The fundamental risk of investing in stock is the risk that the value of the stock might decrease. Stock values fluctuate in response to the activities of an individual company or in response to general market and/or economic conditions. Historically, common stocks have provided greater long-term returns and have entailed greater short-term risks than preferred stocks, fixed-income and money market investments. The market values of all securities, including common and preferred stocks, is based upon the market’s perception of value and not necessarily the book value of an issuer or other objective measures of a company’s worth. If you invest in the Fund, you should be willing to accept the risks of the stock market (to the extent that a Fund invests in common stock) and should consider an investment in the Fund only as a part of your overall investment portfolio. Macroeconomic Risks: |
Mortgage Backed and Asset Backed Securities Risks [Member] | |
General Description of Registrant [Abstract] | |
Risk [Text Block] | Mortgage-Backed and Asset-Backed Securities Risks: Prepayment associated |
Subordinated Debt of Banks and Diversified Financial Companies [Member] | |
General Description of Registrant [Abstract] | |
Risk [Text Block] | Subordinated Debt of Banks and Diversified Financial Companies: |
Structured Products [Member] | |
General Description of Registrant [Abstract] | |
Risk [Text Block] | Structured Products: |
Futures Contracts [Member] | |
General Description of Registrant [Abstract] | |
Risk [Text Block] | Futures Contracts: During the period a futures contract is open, changes in the value of the contract are recognized as unrealized gains or losses by “marking-to-market” correlation between the value of the instruments and the underlying securities, or that the counterparty will fail to perform its obligations. Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded. Should market conditions move unexpectedly, the Fund may not achieve the anticipated benefits of the futures contract and may realize a loss. See Note 4 for information on futures contract activity during the period ended July 31, 2023. |
Common and Preferred Stocks [Member] | |
General Description of Registrant [Abstract] | |
Risk [Text Block] | Common and Preferred Stocks: The fundamental risk of investing in stock is the risk that the value of the stock might decrease. Stock values fluctuate in response to the activities of an individual company or in response to general market and/or economic conditions. Historically, common stocks have provided greater long-term returns and have entailed greater short-term risks than preferred stocks, fixed-income and money market investments. The market values of all securities, including common and preferred stocks, is based upon the market’s perception of value and not necessarily the book value of an issuer or other objective measures of a company’s worth. If you invest in the Fund, you should be willing to accept the risks of the stock market (to the extent that a Fund invests in common stock) and should consider an investment in the Fund only as a part of your overall investment portfolio. |
Macroeconomic Risks [Member] | |
General Description of Registrant [Abstract] | |
Risk [Text Block] | Macroeconomic Risks: |
Class FI [Member] | |
General Description of Registrant [Abstract] | |
NAV Per Share | $ / shares | $ 20.59 |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |
Outstanding Security, Held [Shares] | shares | 675,517 |
Institutional Class [Member] | |
General Description of Registrant [Abstract] | |
NAV Per Share | $ / shares | $ 20.58 |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |
Outstanding Security, Held [Shares] | shares | 3,635,053 |