Tactical Ladder

Strategy Overview

The Tactical Ladder strategy is an actively managed strategy that consists primarily of investment grade securities with an overall modified duration range of +/-15% to the benchmark (Barclays 5-Year Municipal). The foundation of our process rests on our independent, in-house credit research team, which enhances our value-based investment approach by identifying suitable credits currently undervalued in the marketplace.

Profile

Average Maturity 5.26
Yield to Worst 2.45%
Yield to Maturity 2.68%
Modified Duration 3.56
Avg. Coupon 3.87%

Sector Chart

Top Sector Allocations %
General Obligation 48.40%
School District 20.37%
Water 6.92%
PRE/ETM 5.69%
Utilities 4.04%

State Chart

Top State Allocation %
Texas 15.45%
Wisconsin 10.28%
Illinois 9.61%
Iowa 7.11%
Washington 6.75%

Portfolio Management Team

Tom Bernardi, CFA – 5 years of industry experience
John Tranas – 26 years of industry experience

For more information find our strategies on Envestnet or Morningstar

Data as of 12/31/2018