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Managed Fixed Income

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

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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