Investment Philosophy

A singular focus on municipal investments.

As we work to protect principal and intelligently maximize after-tax income and returns, our highest priority is the comfort of investors in their municipal portfolios and financial future. To achieve this objective, we’ve made municipal credit and market research a core competency – using our independent credit and quantitative research to integrate environmental, social, and governance (ESG) factors into our investment process and uncover generally overlooked value.

By employing a collaborative approach to investment management, we seamlessly integrate our independent credit and quantitative research into our portfolio management process in order to protect and grow our clients’ wealth.

Credit Research

Our forward-looking analysis of credit risk, including ESG factors, enables our portfolio managers to purchase only bonds that we have identified as sustainable and high quality, and anticipate credit distress before major credit ratings agency outlook changes or rating downgrades can negatively impact the pricing of clients’ holdings.

Quantitative Research

We perform quantitative analyses to identify the market’s structural inefficiencies, calculate optimal pricing, and determine the types of municipal bond structures that we believe will perform best given client needs and objectives—whether clients are looking to minimize volatility, ensure predictable income, or generate high income.