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Wasmer Schroeder

Short Tax Exempt Credit

STEC

Objective

Short duration, tax exempt income through opportunistic credit selection within first 5 years of the municipal yield curve

 

Highlights

  • Focus: Captures opportunities within the first 5 years of the yield curve
  • Composite Inception Date: 6/30/2018
  • Benchmark: Bloomberg Barclays Municipal Short 1-5 Year Index
  • Credit Quality: Opportunistic portfolios that may hold below investment grade bonds depending on relative value
  • Duration: Short duration with a primary focus on 1-5 year maturities
  • 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

*Below Investment Grade

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.