US Municipal Intermediate

Investment Objective

Exceed the benchmark by 50 basis points annually over the course of a market cycle while seeking to obtain optimal after-tax return.

Investment Style

Construct a portfolio using municipal securities and seek to add value through yield curve management, sector allocation and security selection

Investment Vehicles

Separate Account: Contact your Client Service Executive or call 1-626-844-9400
Commingled Vehicle Available

Performance as of December 31, 2017

Returns for periods greater than one year are annualized. Please see the Performance Disclosure for more information.


Strategy AUM: Total US Municipal Intermediate Assets:
US$19.4 billion (as of December 31, 2017)
Benchmark: Bloomberg Barclays Municipal Bond 1-15 Yr Blend (1-17) Index
Inception Date: 01 Mar 95

Sector Allocation as of December 31, 2017

US Municipal Intermediate | Sector Allocation as of December 31, 2017
Note: Sector allocation includes look-through to any underlying commingled vehicles if held. All weightings are a percentage of total market value. A negative cash position may be reported, which is primarily due to the portfolio's unsettled trade activity. Data may not sum to 100% due to rounding.

Portfolio Characteristics as of December 31, 2017

US Municipal Intermediate | Portfolio Characteristics as of December 31, 2017
IMPORTANT INFORMATION: All investments involve risk including loss of principal. Past performance is not indicative of future investment results. This information is only for use by professional clients, eligible counterparties or qualified investors. It is not aimed at, or for use by, retail clients.
** This strategy is also offered with Leverage. The composite disclosure is available upon request.
Represented by the US Municipal Intermediate Aggregate Composite.