Short-Term Fixed

• Product sheet and disclosures  

The Short-Term Fixed Income Style is managed to meet specific liquidity requirements.

This is accomplished by investing in individual securities with an average duration between 95% and 105% of the benchmark outlined in the client's investment policy statement. An emphasis is placed on sector allocation and security selection as opposed to active duration management. The portfolio seeks to maximize current income, and preserve capital.

Between 40-100% of the portfolio is laddered in 1-3 year U.S. Treasury / Agency Notes. Between 0-40% of the portfolio is made up of 1-3 year variable rate securities. To add additional value, the portfolio may contain up to 25% asset backed and mortgage backed securities and up to 30% corporate securities. The portfolio quality is determined by the client's investment policy statement, and the amount of risk the client is willing to undertake. Common benchmarks for the portfolio are the Merrill Lynch U.S.Treasury 1-3 and the Barclay's G/C Intermediate.

Management Style:

• Our core expertise is fixed income portfolio management
• Once we've evaluated your risk tolerance, we establish a duration
• Adjusted to your risk tolerances
• Interest/Reinvestment Rate Risk – Is determined by benchmark
• Credit Quality Risk – In conjunction with your investment policy, we determine which market sectors fit your objectives and weight the portfolio accordingly
• Security Selection – We seek to identify the best values in the marketplace

Typical Components:

• US Treasury/Agency
• Variable Rate Securities
• Commercial Paper

Added Value Components:

• Asset Backed
• Mortgage Backed
• Corporate