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Wasmer Schroeder

Intermediate Tax Exempt Credit

ITEC

Objective

Intermediate strategy generating tax exempt income and total return through opportunistic credit selection within the first 15 years of the municipal yield curve

 

Highlights

  • Focus: Opportunistically seeks credit opportunities while reducing interest rate sensitivity
  • Composite Inception Date: 10/31/2015
  • Benchmark: Bloomberg Barclays 1-15 Year Municipal Bond Index
  • Credit Quality: Opportunistic portfolios that may hold below investment grade bonds depending on relative value
  • Duration: Intermediate portfolio that targets maturities out to 15 years, with primary focus being 1-10 years
  • Sector Allocation: Diversified sector approach that tactically overweights revenue bonds with opportunistic exposure to general obligation debt

Characteristics

 

Top Sectors

Source for Index information: Bloomberg Barclays

Credit Quality Details

The rating shown is the middle rating ranked lowest to highest by the three primary rating agencies, if three ratings are available. If only two ratings are available, WS shows the lower of the two ratings. More information about the ratings assigned to the securities in the Portfolio by each ratings agency is available upon request. The ratings shown may not reflect the ratings as of the report date; ratings are updated periodically and are subject to change without notice. During periods of market volatility, ratings may change dramatically.