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 | 1.02 |
Modified Duration | 0.97 |
Sector Allocation
General Obligation | 37.77% |
Schoo District | 28.38% |
Housing | 7.81% |
Utility | 6.71% |
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 09/30/2023