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
- NTAM Municipal Fixed Income asset under management: $30.6B*
- 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 June 30, 2022
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
Revenue above expectations, pandemic federal aid and reserves have strengthened states’ financial outlook. But states will need to prepare as pandemic aid winds down and the economy slows.
Sticky inflation plus the war in Ukraine pushed rates higher and triggered bond losses in the first quarter. We see volatility continuing for shorter term bonds while longer term bonds stabilize.
Massive pandemic-related federal aid and growing income set a strong foundation for state and local governments in 2022.