Much Ado About Taxes: Seix Investment Advisors’ Tax-Exempt team provides insights on the municipal market’s reaction to tax reform.
08.21.2018 Seix Hires Mike Tamasco as Managing Director, Institutional Sales
With more than 25 years of experience, Tamasco will offer Seix’s comprehensive array of fixed income strategies, including its expertise in managing broad market, short duration, taxable and tax-exempt investment grade portfolios along with high yield bonds, leveraged loans, CLO structures and multi-sector credit solutions.
Multi-Sector Absolute Return
Search for Yield in a Low Interest Rate Environment
Institutional investors around the globe are challenged to find income to reach investment and spending targets, without taking on undue risk. Our Multi-Sector Absolute Return Strategy is an actively managed response for investing in a low yield environment.
The strategy allows us the flexibility to actively use and rotate among fixed income sectors (including U.S. investment grade, high yield bond, leveraged loans and non-U.S. bonds), taking advantage of relative value to enhance portfolio yield, while avoiding risks associated with using only one sector. The allocation decision and review is based on an analysis of macroeconomic and microeconomic themes and an assessment of the relative value of each sector.
Investment Grade: Taxable and Tax-Exempt Fixed Income
Timely commentary regarding the prior quarter’s economic environment and market events, with a view to how these impact their market sector.
3Q18 Leveraged Finance Market Review & Outlook
> The high yield market advanced 2.44% during the quarter, according to the ICE BofAML High Yield Index, with CCC-rated issues leading. Despite some outflows from mutual funds, technical factors, on balance, provided support to the market, as issuance declined during the quarter and the market continued to shrink.
> The leveraged loan market posted positive returns for the quarter, gaining 2.00% and building on the previous two quarters. It was the strongest quarterly performance for loans since fourth quarter 2016. Gains occurred across all sectors, with Retail and Metals & Mining leading the way, and Diversified Media and Utilities lagging. There were no new defaults this quarter, signaling a reduction in forward looking projections.
Featured in Wealth Management’s 2018 Year-End Outlook edition, Seix examines unfunded pension liabilities, a key credit concern across municipal markets, and cautions muni investors to take notice.
Investment Grade Bonds: The Anchor of Your Portfolio
A bottom-up focused, top-down aware investment approach that values liquidity, does not invest by solving for yield and is marked by transparency in process, portfolio structure and performance.
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