Short-Maturity,
Tax-Efficient

The Short Maturity Municipal Fixed Income strategy focuses on generating tax-efficient income and preserving capital for investors, with a highly-tailored approach to credit selection based on client circumstance. We emphasize investments in sectors with high credit quality, thoughtful diversification, and opportunistic trading to help drive cash flow and liquidity.

This strategy is designed for investors seeking near-term income and liquidity as well as a relatively stable, tax-conscious, and high-quality bond portfolio tailored to reflect their state income tax situation. The portfolio is actively managed with regard to duration and portfolio structure. The strategy generally holds 10-25 individual bonds.

How We Manage the Portfolio

Capital Preservation and Tax-Exempt Income

  • Focus on investment-grade issuers with maturities ranging from
    1-5 years
  • Resilient to credit stress, changing interest rates, and volatile markets
  • Emphasis on predictable income flow and principal stability

Aligned to Client
Tax Situation

  • Review inherited securities
    for suitability
  • Manage turnover and gain/
    loss realization
  • Consider changes in tax landscape

Incremental Return Tactics

  • Portfolio maturity restructuring in response to yield curve changes
  • Seek opportunities at sector and security levels
  • Capitalize on the seasonality of supply and demand

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