High Income Municipal

Strategy Overview

The High Income Municipal strategy is an actively managed strategy appropriate for investors seeking a goals-based portfolio with the aim for higher yield/income potential.  The goal of the strategy is to generate higher income while investing in a high quality, diversified portfolio.  The strategy consists of fully discretionary, separately managed account (SMA) portfolios.  The strategy holds individual bonds, primarily consisting of investment grade issues, which seek high income through higher duration portfolios.

Profile

Average Maturity 12.16
Modified Duration 6.24

Sector Allocation

School District 41.13%
General Obligation 40.01%
Water 6.20%
Higher Education 3.86%
Utilities 1.50%

State Allocation

Top State Allocation %
Indiana 13.46%
Illinois 11.62%
Texas 10.86%
Michigan 8.79%
Wisconsin 8.00%

Portfolio Management Team

Tom Bernardi, CFA
John Tranas

For more information find our strategies on Morningstar

Data as of 06/30/2024