Client Profile
Taft-Hartley (Core Taxable Municipal Bond Strategy)
A Midwestern union local had experienced unexpected volatility in a portion of its core fixed-income strategy and had interest in the taxable municipal market given the press coverage of the Build America Bond program.
- The local wanted to diversify its exposure from a single-core fixed-income strategy to reduce the risk for this portion of the investment portfolio.
- They also felt that there was an opportunity to take advantage of a market that provided the financing for municipal capital-improvement projects that either directly or indirectly benefited their constituents.
Breckinridge met the investment objectives and aligned common interests by structuring a taxable municipal portfolio
