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Overview

Why Choose This Strategy?

  • To achieve tax-free income for tax sensitive clients
  • For a high-quality municipal bond allocation, potentially add additional ballast within portfolios
  • Maintain a lower level of price volatility than longer-term municipal bonds

Investment Strategy

  • The municipal bond team follows a disciplined, research-driven, risk-managed process to identify attractive relative value within the investment grade municipal universe
  • Portfolio managers and credit research analysts select securities based on rigorous internal quantitative and qualitative review. Security selection seek to exploit sector, state, and individual security relative value opportunities.
  • Interest rate risk is managed by targeting duration exposure within close proximity to the benchmark.
  • Maturity structure is actively adjusted relative to the benchmark to take advantage of current and anticipated changes to the shape of the yield curve.
  • Tax implications, including tax loss harvesting, can play an integral role in the relative value analysis conducted to evaluate investment alternatives.

Facts

Objective

Seeks to provide a high level of tax-free income, emphasize after-tax return.

Inception Date

02/01/05

Management

Loomis, Sayles & Company

  Joined the Firm Began Investment Career
Dawn Daggy-Mangerson Photo

Dawn Daggy-Mangerson

Managing Director - Municipal Portfolio Management Team

Full Bio

2006 1988
Pramila Agrawal Photo

Pramila Agrawal, PhD, CFA®

Vice President, Portfolio Manager and Head of Custom Income Strategies

Full Bio

2007 2007

Literature

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For Financial Professionals

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