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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David Weiner

Managing Partner
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Eric Sellinger

Managing Partner
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Infrastructure Plus Strategy: Q1 2021 Commentary

Infrastructure Plus Strategy: Q1 2021 Commentary

For the first quarter of 2021 Infrastructure PLUS was up 1.4%, lagging our infrastructure benchmark (Dow Jones Brookfield US Infra Index) which was up 8.7% as well as the S&P 500 which was up 6.2%. Infrastructure PLUS’s strong 2020 performance benefited from the...

Infrastructure Plus Strategy: Q1 2021 Commentary

May 28, 2021

For the first quarter of 2021 Infrastructure PLUS was up 1.4%, lagging our infrastructure benchmark (Dow Jones Brookfield US Infra Index) which was up 8.7% as well as the S&P 500 which was up 6.2%. Infrastructure PLUS’s strong 2020 performance benefited from the...