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.