Fixed income

U.S. Limited Duration Tax-Advantaged Strategy

The strategy seeks to preserve principal and provide liquidity while delivering consistent, competitive risk-adjusted returns with low volatility over a market cycle.

Products offered
  • Separate Account
    • U.S. Limited Duration Tax-Advantaged

Competitive advantages

Conservative investment approach

The team actively manages funds with clear priority given to investors’ need for liquidity, preservation of capital, and a competitive yield.

Security selection

A bottom-up process relies on fundamental research and relative-value recommendations for security selection.

Disciplined risk management

The team uses proprietary risk models, including both quantitative and qualitative factors, to identify investment opportunities and manage key risks.

Investment approach

Prioritizing liquidity and capital preservation through a disciplined approach

Risk management drives investment decisions

The team considers portfolio construction, management, and oversight through a lens of risk management.

A dedicated portfolio management team draws on industry experience.

The team is supported by a deep and tenured team of credit research analysts experienced in government, prime, and municipal strategies.

Liquidity management is the key portfolio decision.

The team sets forward-looking liquidity targets by taking into consideration shareholder composition, market conditions, and regulatory guidelines.

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Composite performance

Average annual returns

Average annual returns

(as of 9/30/2024)
4/1/1990
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Composite (Gross)
0.49
2.16
2.81
5.80
1.96
1.60
1.44
3.02
Composite (Net)
0.48
2.14
2.73
5.69
1.86
1.50
1.33
2.84
Benchmark
0.57
1.77
3.30
4.90
2.03
1.60
1.23
2.18
Benchmark
0.31
1.64
2.59
4.97
1.60
1.49
1.29

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Calendar year

Calendar year

2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Composite (Gross)
3.77
-0.44
0.02
1.45
2.07
1.78
1.34
0.89
0.82
0.73
Composite (Net)
3.67
-0.54
-0.08
1.35
1.97
1.66
1.22
0.75
0.67
0.56
Benchmark
4.13
-1.06
-0.16
1.42
2.43
1.58
0.28
0.54
0.01
0.11
Benchmark
3.39
-1.13
0.31
1.76
2.46
1.74
0.92
0.30
0.61
0.58

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.


Our team
Meet the investment team

The team philosophy adheres to disciplined active management to provide clients with consistent, competitive risk-adjusted returns to meet their liquidity needs.

View Team
Jeffrey

Jeffrey Weaver

Head of Global Liquidity Solutions

Key risks

Market risk: Security markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments with different sectors of the market and different security types reacting differently to such developments.

Debt securities risk: Debt securities are subject to both credit and interest rate risk. Credit risk is the possibility that the issuer or guarantor of a debt security may be unable, or perceived to be unable or unwilling, to pay interest or repay principal when they become due, and credit risk increases as an issuer’s credit quality or financial strength declines. Interest rate risk is the possibility that interest rates will change over time such that when interest rates rise, the value of debt securities tends to fall and the longer the terms of the debt securities held the greater the impact of this risk.

High yield risk: If a strategy invests in high yield securities (commonly known as junk bonds), these securities are considered speculative and have a much greater risk of default or of not returning principal and their values tend to be more volatile than higher-rated securities with similar maturities.

Foreign securities risk: If a strategy invests in the securities of non-U.S. issuers, these investments may be subject to lower liquidity, greater price volatility, and risks related to adverse political, regulatory, market, or economic developments and may be affected by changes in foreign currency exchange rates.

Investors should know that this strategy deployed may be subject to additional investment risks. For important information about the investment manager, please refer to the investment manager’s Form ADV Part 2, which is available upon request.

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We look forward to helping you with your investment needs

 

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