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 | 1.00 |
| Modified Duration | 0.95 |
Sector Allocation
| General Obligation | 48.90% |
| School District | 24.14% |
| Housing | 8.09% |
| Utility | 7.13% |
State Chart
| Top State Allocation | % |
| Indiana | 32.22% |
| Minnesota | 8.37% |
| West Virginia | 8.09% |
| New Mexico | 7.19% |
| New Jersey | 7.17% |
Portfolio Management Team
For more information find our strategies on Morningstar
Data as of 12/31/2022