The Nomura Municipal Bond Ladder (SMA) strategies seek to deliver a tax-free stream of income consistent with a portfolio of laddered municipal securities that are held to maturity or sold as they reach the portfolio’s minimum maturity – delivering robust credit research and institutional access to the municipal bond market.
Maturity options include:
Predictable cash flow
Approximately equal-weighted by maturity, laddered portfolio of diversified municipal bonds customized to your needs
Direct owned, diversified
Institutional-level execution with full transparency and control over individual holdings with diverse issuer exposures
Low turnover strategy
Proceeds of maturing bonds reinvested into longer, generally higher yielding bonds, and no active trading unless warranted
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, while maintaining a structured duration profile.
The total return–oriented investment process emphasizes tax-advantaged results, combining deep bottom-up credit research with a broader macroeconomic perspective.
In-depth fundamental analysis is the cornerstone of the team’s approach.
A collaborative team structure across portfolio management, research, and trading ensures informed, disciplined decision making at every step.
We'll provide the depth of experience and resources needed to help address the changing dynamics of today's markets. From ETFs, SMAs, and mutual funds to private markets, our team can help you identify investment solutions aligned to your clients' financial needs.
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.
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.