SECURITY SELECTION - Yield compression is a key component of adding value to a portfolio. Similar to the buy low; sell high philosophy, we purchase individual Municipal securities that we view as undervalued, realizing that the price of that bond can rise over time relative to other securities offered within that sector.     

ACTIVE PORTFOLIO CONSTRUCTION - Investor demand in the Municipal market place tends to generate specific, disproportionate value relationships along the yield curve. Our valuation model acts as a useful tool in determining which maturities along the yield curve are undervalued relative to others. We will feed paper into the market’s demand and align our client’s portfolios to the maturity that offers the best value. This is done in all cases without adjusting the duration (risk) of the client’s portfolio.  

CREDIT  SELECTION - Conventional Municipal bond strategies (ie: Laddered Portfolios) tend not to achieve optimal performance because of the unseen risks they take. One major risk to  investors who purchase only  the bonds issued within their state of residence is Execution Risk. These portfolios not only lack diversification, but in most cases over-pay for in-state credits just to obtain their respective tax benefit.

Our portfolios invest in only the highest quality, general market credits throughout the country which offers diversification to each individually managed portfolio. Most importantly though, these securities are purchased at under-valued prices adding significantly more income to our client’s bottom line on an tax adjusted basis!