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 7.64
Modified Duration 5.24

Sector Allocation

General Obligation 48.40%
School District 29.97%
Water 7.85%
Utilities 2.95%
Higher Education 2.00%

State Allocation

Texas 13.98%
Indiana 12.55%
Michigan 10.14%
Illinois 8.91%
Wisconsin 7.18%

Portfolio Management Team

Tom Bernardi, CFA
John Tranas

For more information find our strategies on Morningstar

Data as of 09/30/2023