Separately Managed Accounts
Intermediate-Term Municipal Bond
Investment Objective
To maximize tax-exempt income over an intermediate-term time period (i.e., 5-10 years) and preserve capital.
Investment Team
The portfolio is managed by a team of tenured research professionals who are responsible for the active selection of securities within the strategy.
Composition
At the time of purchase:
- 5% maximum of any one issuer
- 50% maximum of municipal revenue bonds in aggregate
- 100% investment-grade underlying credit quality
Maturity
- Maximum maturity of 10 years for each investment.
0% - 0% Equities
Investment Process
The firm’s economic overview and long-term fundamental valuations guide duration management targets set by the Fixed Income Team. The Fixed Income Team then establishes a current strategy for the portfolio, where securities are selected from a broad universe and meet specific valuation criteria. We use proprietary rating/ranking models extensively in our analysis. After securities are purchased, they are monitored on an ongoing basis and additional purchases or sales are evaluated as conditions and pricing dictate.
Investment Objective
To maximize tax-exempt income over an intermediate-term time period (i.e., 5-10 years) and preserve capital.
Investment Team
The portfolio is managed by a team of tenured research professionals who are responsible for the active selection of securities within the strategy.
Composition
At the time of purchase:
- 5% maximum of any one issuer
- 50% maximum of municipal revenue bonds in aggregate
- 100% investment-grade underlying credit quality
Maturity
- Maximum maturity of 10 years for each investment.
Investment Process
The firm’s economic overview and long-term fundamental valuations guide duration management targets set by the Fixed Income Team. The Fixed Income Team then establishes a current strategy for the portfolio, where securities are selected from a broad universe and meet specific valuation criteria. We use proprietary rating/ranking models extensively in our analysis. After securities are purchased, they are monitored on an ongoing basis and additional purchases or sales are evaluated as conditions and pricing dictate.