Ultra-Short Municipal
Strategy Overview
The Ultra-Short Term Municipal strategy is an actively managed strategy appropriate for investors seeking a hedge against rising interest rates. The goal of the strategy is to generate higher income compared to tax-free money market funds. The strategy consists of fully discretionary, separately managed account (SMA) portfolios. The strategy invests primarily in municipal bonds exempt from federal income taxes.
Profile
| Average Maturity | 1.01 |
| Modified Duration | 0.96 |
Sector Allocation
| School District | 37.01% |
| General Obligation | 35.38% |
| Housing | 8.16% |
| Utility | 7.14% |
State Chart
| Top State Allocation | % |
| Indiana | 25.41% |
| West Virginia | 8.16% |
| Ohio | 7.23% |
| New Mexico | 7.19% |
| Illinois | 7.18% |
Portfolio Management Team
For more information find our strategies on Morningstar
Data as of 06/30/2023