We are a fixed-income investment advisor with a primary focus on customized tax-exempt and taxable municipal bond portfolios. We believe this focus on the municipal market generates valuable insight and access for our clients. We serve high net worth individuals, foundations, endowments, pension funds and institutions. As an independent, employee-owned firm, we are strongly committed to excellent service and meeting our investors’ objectives, a commitment we support with continued investment in our people, systems and technology.


 
February 2010 Special   February 2010   January 2010
 
 
  Recent news reports have raised alarm that state and local governments may be unable to pay for large unfunded pension and retiree healthcare liabilities. Breckinridge believes that while these “legacy costs” are large and growing, states and local governments will ably manage them.     Most fixed income sectors posted another month of positive returns in February, again reflecting a flight to quality and search for higher yields.     With less than a year of history, BABs have evolved into a viable and visable taxable-bond sector. More than $72 billion of BABs have been issued since April 2009. Estimates of 2010 issuance are as high as $150 billion.

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