The US Taxable Municipal Fixed Income strategy seeks to provide excess returns for total return accounts and excess yield targets for buy-and-maintain strategies, by investing in a high-quality asset class with duration and commensurate yield.
Income focus
Investment approach emphasizes yield, which is the most significant component of total return over time
Research-driven process
Credit analysis is the cornerstone of the team’s bottom-up investment process and drives the potential for excess returns
Strategic relationships
Ability and expertise to customize total return and buy-and-maintain mandates that are aligned with investors’ objectives
Long-term returns are predominantly driven by income – not price swings. This principle shapes the Municipal Bond Team’s approach.
Maximizing income and preserving principal is the primary focus, supported by disciplined risk management.
The award-winning, experienced investment team has applied its investment philosophy consistently for more than two decades.
The total return–oriented investment process emphasizes income and security selection, combining deep bottom-up credit research with a broader macroeconomic perspective.
In-depth fundamental analysis is the cornerstone of the approach.
A collaborative team structure across portfolio management, research, and trading ensures informed, disciplined decision making at every step.
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Risk Disclosures
Investing involves risk, including the possible loss of principal.
Fixed income securities can lose value, including the possible loss of principal. Fixed income securities are subject to credit risk and interest rate risk. Credit risk is the risk that an issuer of a fixed income security may be unable to make interest payments and/or repay principal in a timely manner. Interest rate risk is the risk that prices of bonds and other fixed income securities will increase as interest rates fall and decrease as interest rates rise. Fixed income securities with longer maturities or duration generally are more sensitive to interest rate changes.
Liquidity risk is the possibility that securities cannot be readily sold within seven calendar days at approximately the price at which a portfolio has valued them. To the extent that a portfolio holds fixed income securities in smaller “odd lot” sizes, such positions may be less liquid and harder to sell. Odd lots may trade at lower prices than institutional round lot sizes, which may affect a portfolio’s ability to accurately value its investments.
Nothing presented should be construed as a recommendation to purchase or sell any security or follow any investment technique or strategy.
All third-party marks cited are the property of their respective owners.
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Investing involves risk including the possible loss of principal. The investment capabilities described in this website involve risks due, among other things, to the nature of the underlying investments. All examples herein are for illustrative purposes only and there can be no assurance that any particular investment objective will be realized or any investment strategy seeking to achieve such objective will be successful. Past performance is not a reliable indication of future performance.
Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice.
The fund or strategy is subject to liquidity risk, which is the risk that the fund or strategy’s investments cannot be readily sold within seven calendar days at approximately the price at which the fund or strategy has valued them.