Tactical Ladder

Strategy Overview

The Tactical Ladder strategy is an actively managed strategy that consists primarily of investment grade securities with an overall modified duration range of +/-15% to the benchmark. The foundation of our process rests on our independent, in-house credit research team, which enhances our value-based investment approach by identifying suitable credits currently undervalued in the marketplace.


Average Maturity 6.75
Modified Duration 3.88

Sector Allocation

General Obligation 52.89%
School District 19.41%
Water 7.08%
Utilities 3.98%
Higher Education 2.11%

State Allocation

Texas 14.23%
Indiana 9.88%
Illinois 7.71%
Wisconsin 7.38%
Michigan 6.53%

Portfolio Management Team

Tom Bernardi, CFA
John Tranas

For more information find our strategies on Morningstar

Data as of 12/31/2022