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

Q4 2014

Click here to read the Winter 2014 issue of Quarterly Insights, which features our annual Investment Roundtable and features an author interview with strategies for finding your life’s true calling.