Tax-Exempt Portfolios Customized for Investor Needs
Timothy T.A. McGregor, CFA
Director, Municipal Fixed Income Management
Municipal fixed income strategies tailored to emphasize principal preservation, income and liquidity.
At Northern Trust Asset Management, municipal fixed Income strategies are constructed with the goal of generating consistent risk-adjusted performance. We emphasize the client's unique tax situation, preserving principal, generating current income and providing liquidity.
As active bond managers, managing credit risk is the cornerstone of our fundamental research process. We seek to add value with yield curve positioning, sector and structure and state analysis and disciplined risk management.
- Extensive, global, fundamental credit research and risk management
- Deep integrated team across research, portfolio management, trading & risk
- High-quality, well-diversified fixed income portfolios backed by 40 years of experience
- Municipal Fixed Income asset under management: $34.7B*
- High-quality, high-yield and state-specific strategies in separate accounts and mutual funds
- Active, structured and laddered managed account portfolios to meet investor objectives
*As of September 30, 2020. Source: Northern Trust Asset Management (NTAM) Finance.
A Flexible Platform Actively Seeking Relative Value in Municipal Bonds
Multiple strategies - laddered, structured and active bond portfolios - to meet specific client objectives
Proprietary Municipal Research Seeking Relative Value in Municipal Bonds
States are plagued by pandemic uncertainty, but long-term resiliency remains intact.
The COVID-19 pandemic persisted, but bond investors largely shrugged off concerns with an accommodative central bank and hopes of government aid.
We recently shared a piece describing the risk management benefits of premium coupon bonds. But that benefit may come with a warning: if you spend the entire premium bond coupon income, you may be spending some of your principal, disguised as coupon interest.