Taxable strategies seek to produce higher yields by investing across the U.S. investment-grade fixed income universe, whether they be municipal, corporate, or government issuers.  

While U.S. Treasury securities and corporate bonds are the primary asset class (except in the reserve fund strategy), selective investments in municipal and government agency securities at opportune times can increase yield.  Top-line yield per rating value is a key metric in security selection.  This vertical is refined by interest rate risk into cash management, ultra-short, short-, and intermediate-term strategies.

• Reserve Fund:
  The Reserve Fund Strategy is designed for municipal issuers (debt service reserve funds, capitalized interest funds, project funds, and other public funds) and other entities, such as escrow funds, that are required to invest in U.S. government securities. Portfolio guidelines are customized with direct input of the investor.      

• Strategic Cash:
  The Strategic Cash Strategy is a customized short-duration fixed income strategy for investors with specific investment policy guidelines for their liquidity portfolios, such as corporations, as well as for investors who have very specific liquidity events, such as large tax payments. Portfolio guidelines are highly customized with the direct input of the investor.

• Ultra-Short Taxable:
  The Ultra-Short Taxable Strategy focuses on shorter-term maturities of 0-3 years with preservation of principal and liquidity as the main investment objectives. Potential buy candidates are generally investment-grade corporate and government securities.

• Short Taxable:
  The Short Taxable Strategy focuses on shorter-term maturities of 1-5 years with income generation, preservation of principal, and liquidity as the main investment attributes. Potential buy candidates are generally investment-grade corporate and government securities.

• Intermediate Taxable:
  The Intermediate Taxable Strategy focuses on intermediate-term maturities of 1-15 years with income generation and liquidity as the main investment objectives. Potential buy candidates are generally investment-grade corporate and government securities, including agency mortgage-backed securities.

• Hybrid Preferred:
  The Hybrid Preferred Strategy focuses on the middle of the corporate capital structure of banks, insurance companies, and utilities by investing in tax-preferenced preferred and subordinate securities. There is a significant increase in yield when moving down the capital structure from investment-grade-rated senior debt to lower-rated subordinated debt and preferred securities. This is a way to potentially receive high yields while investing in the lower capital structure of investment-grade companies.

• Taxable Customized:
  The Taxable Customized Strategy is for investors who have very specific investment guidelines that do not fit well into one of the other strategies. Account types that have customized portfolios include: limited liability corporations, insurance companies, captive insurance entities, government contractors, foundations, trusts, and individuals.