Municipalas of December 31, 2016 Print

Logan Circle’s Short Term Actively Managed Municipal Fixed Income strategy utilizes a top-down approach and seeks to consistently generate excess returns through actively managed taxable and tax-exempt sector, security and yield curve level strategies while controlling duration risk. The team seeks to leverage Logan Circle’s deep fundamental credit research and analytical capabilities to enhance returns. Portfolios are broadly diversified across the General Obligation and Revenue sectors of the municipal market with opportunistic allocations to the Government, Corporate and Securitized sectors where permitted. Municipal sub-sectors include, but are not limited to, state and local general obligation, power, water/sewer, special tax, transportation, education, healthcare, appropriation and housing. At a minimum, the average portfolio credit quality is Aa3 or AA-.

Assets Under Management:
$187 million
Portfolio Leadership Team:

Scott D. Pavlak, CFA
Peter E. Mahoney VIEW FULL TEAM
Benchmarks:
Barclays 1-Year Municipal Index; Bank of America Merrill Lynch 1–3 Year U.S. Municipal Securities Index; iMoneyNet All Tax-Free Money Market Fund Average™
Inception Date:
April 1, 2007
Download Fact Sheet

  SECTOR WEIGHTS (Range)
Target
Alpha1
Target
Tracking Error
Duration
Target
30–60
basis points
35
basis points
+/- 20% to
benchmark2
General
Obligation
Revenue Variable Rate
Demand Obligation
Treasury/
Agency
Corporate Money Market
Instruments

0%–75%

0%–75%

0%–25%

0%–25%

0%–50%

0%–35%

1 Target Alpha is an investment objective and not a promise of future results or performance. It is calculated gross of fees over a 3 to 5 year time horizon. There can be no assurance that a portfolio will achieve its target alpha.

2 Custom Benchmark

Investors should carefully consider their investment objectives, risks, fees, charges and expenses before investing any money. To obtain this and other information, please email asklogan@lcpim.com to request more information. Please review the Terms of Use of this site for additional details.