Our fixed income group focuses on execution, high credit quality, and flexibility to benefit our clients.

Fixed Income Fundamentals

• Objective is to preserve client principal.
  
• Do not attempt to forecast interest rates. Instead, take advantage of current market conditions and minimize applicable risks.
  
• Never compromise credit quality; pay particular attention to underlying ratings.
  
• Capture above market yields via disciplined purchasing strategy, not by assuming added credit risk.
  
• Always adhere to client's needs.

• Portfolios are comprised primarily of AA and AAA rated bonds (often pre-refunded or escrowed to maturity).
  
• When purchasing bonds, our portfolio managers are flexible as to the timing of principal and interest payments so long as our clients receive satisfactory additional yield due to this nuance.
  
• We are willing to consider premium and discount bonds which will provide additional yield from the reduced demand.
  
• In constructing portfolios, our portfolio managers will accept modest liquidity risk when such risk returns significant yield enhancement.

• Minimizes downside risk.
  
• Client specific cash flow needs will be matched with our interpretations of interest rate and liquidity risk to construct the optimum portfolio.
  
• Bonds are purchased and sold through an open bidding process to ensure fresh, accurate and above market yields. We do not inventory bonds as an internal profit center.
  
• Our traders act as your personal trader by purchasing bonds with specific accounts in mind.
  
• We tailor our bond portfolios to take into account state preferences, income needs and tax provisions.