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Managed Fixed Income

Parametric’s Managed Fixed Income strategies actively manage municipal bonds to turn inefficiency into opportunity.

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The municipal bond market is highly fragmented and can be inefficient. We rely on our experienced portfolio management team, advanced technology, and expert credit analysis to gain an edge for fixed income investors. We tactically exploit trading opportunities, adjust yield-curve positioning, and reallocate across sectors while embedding ongoing tax management.

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TABS Managed Municipals

An actively managed municipal strategy that uses tactical management via exploiting trading opportunities, yield-curve positioning, and credit ideas.

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TABS Total Return

With the flexibility to cross over into US Treasuries and taxable municipals when tax-exempt municipals become overvalued, TABS Total Return goes where the opportunities are.

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How it works

Our actively managed fixed income strategies seek to exploit pricing inefficiencies within the municipal bond market. We aim to buy undervalued bonds at wholesale prices via a number of sources, including large block trades, new issuance, and odd-lot bid lists. We then aim to sell overvalued bonds at marked-up prices using smaller retail trades, specific buyer needs, and electronic and web-based trading platforms. We also look to make alpha-seeking tactical adjustments as needed. We offer three different duration options for each strategy, plus customization by state for our Managed Municipals strategy. Both strategies use year-round tax-loss harvesting to aim for enhanced after-tax returns.

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Intended benefits of active fixed income management

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Our large network of fixed income broker-dealers helps us offer our clients a wide variety of municipal, corporate, and Treasury bonds.

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Our in-house analysts and strategists perform extensive research to select securities and monitor for credit risks.

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Tax efficiency

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Investors can embrace year-round tax-loss harvesting, allowing us to aim for enhanced after-tax returns.

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Relative value trading

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By actively trading the portfolio into retail demand, we attempt to add excess return by selling bonds above their current valuations.

Tax efficiency through advanced technology

Even sophisticated fixed income investors can miss opportunities to boost tax efficiency. Learn how Parametric's advanced technology can help investors navigate complex rate environments and enhance potential after-tax returns.

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Why choose Parametric?


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Fixed income AUM


Fixed income professionals


Years of average manager tenure

As of 3/31/2024

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Want to know more about our Managed Fixed Income solutions? Complete our contact form, and a representative will respond shortly.

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