Our Tax-Exempt Income strategy seeks to provide federally tax-exempt income at a level above that available through mutual funds employing a similar investment approach, but with similar credit quality and duration as these mutual funds.
No leverage is used. We generally avoid bonds rated below investment grade, and bonds where interest may be subject to the Alternative Minimum Tax.
Clients may request that their state of residence be a factor in our bond selection, subject to our judgment regarding geographic diversification, and the availability of in-state bonds during the initial investment period and ongoing management process.
Advisory fee: 0.36% (36 basis points) annually.