Tax Exempt Portfolios Actively Managed Against Broad or State Specific Municipal Benchmarks
Municipal Fixed Income assignments at Northern Trust are constructed with the goal of generating consistent performance with predictable volatility. We emphasize the objectives of:
We have investment views, but our trading scale and skill allows us to be modest in taking traditional manager bets (duration and credit). We add thoughtful approaches to yield curve, sector, structure & state decisions, yet aiming to end up with portfolios that are often higher quality AND higher return than their benchmarks.
Managing credit risk is the cornerstone of our research process:
We incorporate key elements of our relative value style, emphasizing a rigorous security selection process while closely monitoring and controlling portfolio risk relative to a client-selected benchmark.
We strive to capitalize on market inefficiencies to maximize total return - both income return and price appreciation:
We believe a comprehensive portfolio review process combined with a key understanding of risk is essential to meet our client's investment objectives:
© 2016 Northern Trust Corporation. Based on $946 billion in assets under management as of September 30, 2016. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability in the U.S. Products and services provided by subsidiaries of Northern Trust Corporation may vary in different markets and are offered in accordance with local regulation. For more information, read our legal and regulatory information about individual market offices.
Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, and personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company. This material is directed to professional clients only and is not intended for retail clients. For Asia-Pacific markets, it is directed to expert, institutional, professional and wholesale investors only and should not be relied upon by retail clients or investors. Issued in the United Kingdom by Northern Trust Global Investments Limited.