The strategy seeks long-term preservation of capital and current income through the construction of a high-quality portfolio of intermediate to long duration tax exempt securities.
What is the Long Duration Municipal Strategy?
• Diversified portfolio of municipal bonds across states, issue type (general obligation and revenue), and sector.
• The strategy will adjust to make tactical allocations to take advantage of the current yield curve environment.
• Security selection process includes evaluating the credit quality and fundamental characteristics of the underlying issuer in addition to key characteristics such as current yield to worst, coupon rate, and liquidity.