Investment Grade Municipal Bond
We build municipal bond portfolios designed to achieve superior long-term, risk-adjusted returns, while prioritizing the preservation of your capital. We tailor the allocation to align with your individual risk tolerance and income needs. Our investment strategists will evaluate your unique financial conditions and portfolio objectives to custom tailor an investment solution.
Investment Philosophy
Our Municipal Bond Strategy is designed to generate above-average, tax-exempt income while prioritizing principal preservation. This actively managed intermediate-term strategy is a laddered portfolio approach that optimizes yield while managing downside risk. By integrating macroeconomic insights with rigorous credit analysis, we identify compelling investment opportunities and strategically manage duration in response to shifting yield curves.
Investment Process
As active bond managers, we select bonds from economic and industry sectors that offer attractive value. We thoroughly analyze government monetary and fiscal policies and assess the yield curve to pinpoint the best relative values among various maturities, municipalities, and bond issues. Our sensitivity analysis monitors changes in interest rates and the tax environment to uncover appealing investment opportunities. This approach enhances our ability to choose municipal bonds that align with our established risk/reward criteria.
We offer tailored portfolios to meet specific client investment objectives, including:
· State-specific or state-preferred portfolios
· National portfolios
· Maturity restrictions
· Income requirements
· Tax loss harvesting
Our focus is on high-quality, investment-grade municipal bonds that exhibit high market liquidity and offer attractive relative income based on the yield curve and bond spreads. We select bond holdings by state and further diversify by city, municipality, and maturity. Our quantitative credit spread analysis complements our fundamental assessment of each municipality’s unique characteristics. Additionally, our client portfolios benefit from our institutional access to a broad selection of bonds at competitive prices.
