Seeks monthly income by investing in short-intermediate municipal bonds
Short-intermediate maturity investment grade municipal bonds
Focus on project and essential service revenue bonds
Manages over $23 billion in assets
13 dedicated municipal bond analysts
Average of 20+ years industry experience
Our management philosophy is based on the belief that creating long-term value through comprehensive forward-looking research is the key to providing clients with investment solutions that are both consistent and successful.
We maintain an integrated, team-based investment process that combines the strength of our fundamental credit research staff with the market knowledge and investment experience of our portfolio managers. This value-oriented combination of proprietary research and integrated risk management allows us to seek to maximize risk-adjusted returns.
We combine top-down and bottom-up decision making to identify and exploit market trends and inefficiencies. Our proprietary and comprehensive forward-looking research process allows us to sift through the market noise to uncover attractive relative value opportunities that allows us to structure highly-diversified portfolios away from the headline risk associated with general obligation bonds.
Step 1: Portfolio manager and credit analyst assessment
Discussion of investment opportunity set, risk preferences, sector ideas
Portfolio requirements and suitability
Step 2: Quantitative and qualitative analysis
Analysis of obligor's financial profile
Assessment of obligor's nonfinancial credit factors
Step 3: Obligor fundamental rating
Fundamental rating communicates obligor's creditworthiness using quantitative and qualitative inputs
Step 4: Short-term and long-term outlooks
Short-term outlooks communicate confidence level credit will perform as expected within peer group
Long-term outlooks communicate expectation of fundamental rating