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Wasmer Schroeder

Intermediate Tax Exempt

ITTE

Objective

Intermediate duration, diversified strategy of ultra-high quality municipal issuers within the first 15 years of the yield curve

Highlights

  • Focus: Income generation and reduced volatility are the top priorities
  • Composite Inception Date: 12/31/1991
  • Benchmark: Bloomberg Barclays 1‐15 Year Municipal Bond Index
  • Credit Quality: Focuses on higher quality bonds with a majority of holdings rated ‘AA’ or higher 
  • Duration: Intermediate portfolio that targets maturities out to 15 years, with primary focus being 1-10 years
  • Sector Allocation: Diversified mix of essential service revenue bonds and state & local 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.