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 5.10
Yield to Worst 2.47%
Yield to Maturity 2.64%
Modified Duration 3.56
Avg. Coupon 3.92%

Sector Chart

Top Sector Allocations %
General Obligation 45.39%
School District 20.01%
PRE/ETM 7.39%
Water 7.32%
Utilities 4.02%

State Chart

Top State Allocation %
Texas 14.17%
Wisconsin 10.98%
Illinois 10.79%
Iowa 6.96%
Washington 6.40%

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 9/30/2018