Identify
Universe Screening
Initial Universe
Institutional Strategies:
- Tax-Free Fixed Income = High-Quality Municipal Bonds Taxable Fixed Income = High-Quality U.S. Treasury & Agencies, Taxable Municipal Bonds, & Investment-Grade Corporate Bonds
Analyze
Fundamental Research
Key Facts
Quality:
- Average Issue Credit Quality is “AA” Rated
- Primarily Seek Premium Quality General Obligation Bonds & Essential-Service Revenue Bonds
Analyze:
- Use Proprietary System & Analyze Structure of Each Bond Issue in Focus & Assist Projecting Performance in Varying Interest Rate Conditions
Goal:
- Achieving Income
- Seek Improved Total Return
Execute
Execute
Portfolio Construction
Trade Execution:
- Employ Multiple Trading Partners & Draw on Partners’ Institutional Research
- Capitalize Bulk Trading & Institutional Pricing
Risk Control:
- Sell Bonds Prior to Decay in Par Value
- Avert Low Yielding Less Efficient Front Segment of Yield Curve
Identify
Analyze
Execute
Universe Screening
Fundamental Research
Execute
Initial Universe
Institutional Strategies:
- Tax-Free Roll Down: Nationally Diversified Portfolio of High-Quality Municipal Bonds
- Taxable Roll Down: High-Quality US Treasury & Agencies, Investment-Grade Corporate Bonds, & Taxable Municipal Bonds
Key Facts
Quality:
- Average Issue Credit Quality is “AA” Rated
- Primarily Seek Premium Quality General Obligation Bonds & Essential-Service Revenue Bonds
Analyze:
- Use Proprietary System & Analyze Structure of Each Bond Issue in Focus & Assist Projecting Performance in Varying Interest Rate Conditions
Goal:
- Achieving Income
- Seek Improved Total Return
Portfolio Construction
Trade Execution:
- Employ Multiple Trading Partners & Draw on Partners’ Institutional Research
- Capitalize Bulk Trading & Institutional Pricing
Risk Control:
- Sell Bonds Prior to Decay in Par Value
- Avert Low Yielding Less Efficient Front Segment of Yield Curve
- Deploys Roll Down The Yield Curve Strategy when Advantageous”
