Tax-exempt bonds should be a significant holding in a fixed
income strategy for taxable investors. Payden & Rygel's
tax sensitive strategies seek to maximize after-tax total
return and are customized to meet the unique investment objectives
of each client as well as clients tax status and state of
domicile. Portfolios may include taxable securities.
Short Term
Short-term tax sensitive strategies seek to earn income higher
than money market alternatives while preserving capital. Short
maturity municipal bonds as well as Treasury, Agency, corporate
and asset-backed bonds may be used based on their tax-adjusted
relative value.
Intermediate Term
The intermediate strategy is a core portfolio strategy for
most individuals. The intermediate maturities along the yield
curve provide a large portion of the return of longer securities
with a fraction of the price volatility. The portfolios are
tailored to meet each client's unique investment goals and
tolerance for risk, and can be customized to emphasize in-state
tax benefits where appropriate.
Long Term
The long-term strategy is designed for investors who may have
long-term liabilities against which they are managing their
assets. The strategy generally invests in securities across
the entire maturity spectrum, and includes sectors such as
Governments and mortgage-backed securities in addition to
traditional municipal securities.
More information on Payden & Rygel's
fixed-income, equity
and balanced investment strategies.
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