In a changing market environment, with increased interest rate volatility, investors may benefit from a flexible approach that seeks opportunities across the entire municipal bond market.
The strategy is designed to achieve attractive tax-free income, relative to both municipal bonds and comparable-term taxable bonds, which may benefit investors, especially those in higher tax brackets.
The team covers the full credit quality spectrum and municipal curve, as well as each state and sector within the municipal market. This allows us to seek and to potentially capitalize on total return opportunities across the broad municipal market.
We identify factors that serve as inflection points on the credit trajectory and also take into account the political environment, demographics and economic sustainability to actively manage interest rate and credit exposures.
Expertise in Credit Research
Analysts merge state-specific responsibilities with a sector-specific focus, which may offer investors risk-adjusted valuation analysis. Our research analysts also provide portfolio managers with real-time relative trade ideas.
Collaboration and Transparency
Our credit and portfolio management teams are in constant communication, debating and reviewing investment themes to build conviction-based portfolios and promote a culture of accountability and transparency.
Multi-Layered Risk Management
We aim to ensure that active risk is employed intelligently, sized appropriately, diversified broadly and remain within the acceptable parameters of the portfolio. Our proprietary risk-monitoring model estimates risk at the aggregate portfolio level and at the individual security level.
For more information, please contact your GSAM relationship manager