Short Term Municipal Strategy

Strategy Overview

The Short-Term Municipal strategy is an actively managed strategy appropriate for investors seeking a hedge against rising interest rates from a high quality, diversified portfolio.  The goal of the strategy is to reduce portfolio volatility and credit risk, generate income free of federal income taxes, and produce superior risk adjusted returns relative to the Bloomberg Barclays Muni Short (1-5) benchmark. The strategy consists of fully discretionary, separately managed account (SMA) portfolios.  The strategy invests primarily in municipal bonds exempt from federal income taxes.


Average Maturity 3.69
Modified Duration 2.67

Sector Allocation

General Obligation 63.18%
School District 8.31%
Water 7.64%
Utilities 3.56%
PRE/ETM 2.91%

State Allocation

Top Five State Allocations
Wisconsin 14.94%
Texas 14.06%
Iowa 12.01%
Indiana 8.35%
Illinois 6.55%

Portfolio Management Team

Tom Bernardi, CFA | 8 years of industry experience
John Tranas | +20 years of industry experience

For more information find our strategies on Envestnet or Morningstar

Data as of 3/31/2020