Municipal bankruptcies highlight the need for solid bond research


Key Points

  • Despite recent headlines, municipal bankruptcies are rare and expected to remain so
  • We believe high-quality municipal bonds continue to offer value—particularly to high-income earners—because of their tax-exempt status
  • Our research-intensive investing approach has helped our managers to steer clear of troubled municipal debt issues in client portfolios
  • Local government challenges demonstrate the importance of active management and professional research when investing in this area of the market

Quarterly Commentary

Q2 2015

Click here to read the Summer 2015 issue of Quarterly Insights, which discusses the emergence of the fast-casual dining industry, outlines how women in India are changing the investment landscape and shows how sound habits lead to greater happiness.