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.

Profile

Average Maturity	8.96
Effective Duration	6.00

State Allocation

Indiana	12.03%
Texas	11.67%
Illinois	11.45%
Michigan	9.87%
Wisconsin	7.94%

Portfolio Management Team

Tom Bernardi, CFA
John Tranas

For more information find our strategies on Morningstar