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 CSE or call 1-626-844-9400
Commingled Vehicle Available

Performance as of December 31, 2016

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

Historical Performance: By Calendar Year

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Snapshot

Strategy AUM: Total US Municipal Intermediate Assets:
US$19.6 billion (as of December 31, 2016)
Benchmark: Bloomberg Barclays Municipal Bond 1-15 Yr Blend (1-17) Index*
Inception Date: 01 Mar 95
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Sector Allocation

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Portfolio Characteristics

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Past performance is not indicative of future investment results, the value of any investment can fall as well as rise.
* Represented by the US Municipal Intermediate Aggregate Composite.
** This strategy is also offered with Leverage. The composite disclosure is available upon request.