Intermediate separately managed accounts are designed to maximize total after tax returns while also accommodating the specific needs and objectives of each client with a longer time horizon. The maturity spectrum of the intermediate strategy includes investments with a final maturity of 30-years or less. The strategy attempts to enhance return through active relative value trading, quite often combining both taxable and tax-exempt securities in the portfolio. In many instances, a combination of taxable and tax exempt bonds can often minimize volatility and lead to attractive after-tax risk-adjusted return.
Each portfolio is fully customizable and is structured to take into account the client’s tax sensitivity, liquidity needs, return parameters and risk appetite. Each client has direct access to a dedicated portfolio manager who employs a disciplined buy and sell strategy while adhering to each client’s appropriate risk profile. The professional management of your portfolio helps to avoid paying excess fees to buy and sell bonds