Short Duration Municipal Bond Strategy

Our actively managed Short-Duration Municipal Bond Strategy seeks to outperform other short-term investment strategies such as money market funds and treasuries by carefully purchasing short-duration, high-quality, short-call municipal bonds that generate coupon interest. The strategy uses no leverage, nor does it invest in other investment vehicles such as mutual funds or other pooled investment vehicles.

  • FEDERALLY TAX-FREE
  • AVERAGE DURATION OF ONE-YEAR OR LESS TO LIMIT RISK
  • LABOR-INTENSIVE PROCESS UNCOVERS MARKET INEFFICIENCIES
  • QUALITY-FOCUSED DUE DILIGENCE PROCESS BORN OF 30+ YEARS EXPERIENCE
  • MANAGED IN SEPARATELY MANAGED ACCOUNTS AT THE CUSTODIAN OF CLIENT’S CHOOSING
FOCUSED, TAX-EFFICIENT STRATEGY

— An actively managed, tax-efficient strategy that capitalizes on portfolio manager expertise and inefficiencies in the secondary municipal bond market
— Maximize returns versus other short-term strategies by investing in short-duration, high-quality municipal bonds which carry interest income exempt from federal and, as applicable, state tax

VALUE PROPOSITION

— Purchase bonds primarily at auctions on the bid side of the secondary market
— Purchase short-call bonds that have bypassed their initial calls and have little or no call history
— Purchase bonds with attractive yield-to-call and yield-to-maturities

INDUSTRY EXPERTISE

— Manager has spent entire career in municipal bond market
— Manager has managed strategy since 2011

CONSISTENT RETURNS OVER TIME

— Across SMAs, returns have been consistent since strategy inception

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EQUITY INCOME STRATEGY: Q2 2021 COMMENTARY

EQUITY INCOME STRATEGY: Q2 2021 COMMENTARY

Market Overview  At the end of the second quarter over 54% of Americans had received at least one dose of the vaccine, although the pace of vaccinations slowed substantially. New cases and deaths fell to levels last seen in the early days of the Pandemic, but the U.S....

EQUITY INCOME STRATEGY: Q2 2021 COMMENTARY

Market Overview  At the end of the second quarter over 54% of Americans had received at least one dose of the vaccine, although the pace of vaccinations slowed substantially. New cases and deaths fell to levels last seen in the early days of the Pandemic, but the U.S....

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