Investors in this strategy desire something more than tax-exempt income in line with or exceeding that of a standard portfolio… they also want to make an impact, advancing positive social or environmental goals through their municipal investments. The strategy offers investors the option to invest in bonds with a broad array of social purposes or maintain a more targeted focus on education, the environment, or infrastructure.
Investors in this strategy have a neutral view on the direction of interest rates and seek predictable tax-exempt income. Maintaining a disciplined approach of continually reinvesting proceeds of annually maturing bonds, Gurtin offers the industry standard of laddered portfolios that evenly stagger principal across maturities at a fee that is below industry standard costs. This strategy is available in a structure that ladders bonds from 0-18 months (Ultra-Short Term), 0-3 years (Short Term), 0-5 years (Limited Term)*, or 0-10 years (Intermediate Term).
Investors in this strategy seek a level of tax-exempt income that exceeds that of a standard intermediate portfolio. In the management of this strategy, Gurtin takes the standard laddered portfolio to the next level with a value-oriented approach that uses proprietary credit and market research to identify higher yielding, high quality credits and bond structures that are misunderstood by the market, such as callable bond structures. This strategy is available in an intermediate structure that includes 50% callable and 50% non-callable bonds maturing in 1-15 years.
Investors in this strategy seek a high level of tax-exempt income, and are comfortable with interim interest rate fluctuations on bonds held to maturity. Gurtin takes an intelligently contrarian approach that is at once disciplined, value-oriented, and flexible – patiently waiting for opportunities to capture value on bonds which meet higher yield targets by using proprietary credit and market research to identify higher yielding, high quality credits and bond structures that are misunderstood by the market. Portfolios managed under this non-laddered strategy may at times have an intermediate- or longer-term average duration, depending on where value is found.
While investors in this strategy want to maximize tax exempt income, they are also sensitive to negative returns and declines in portfolio value. By using proprietary market research to identify bonds that are less sensitive to rising interest rates and maintaining a flexible approach to portfolio duration, Gurtin aims to deliver stable returns in a portfolio with little correlation to riskier asset classes, even during periods of interest rate volatility. In order to achieve the objective of stability even in the face of rising interest rates, portfolios managed under this non-laddered strategy can vary from short- to intermediate-term average duration, depending on the interest rate environment.
To compare growth of income on funds invested in our municipal strategies, please select a specified timeframe and strategies for comparison. Please note that the start date for the time frame will change to match the inception date of the most recently incepted strategy.
The following strategy objective questionnaire is designed to guide you to a strategy tailored to your individual needs. Please answer as honestly as possible.
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