Limited-Term Municipal Bond

Limited-Term Municipal Bond


Maximize a sustainable dividend stream while minimizing volatility through a limited-term, tax-efficient total return approach.


Portfolios invest primarily in tax-exempt municipal bonds utilizing a laddered structure. Taxable municipal bonds and municipal investment vehicles may also be eligible if relative value and risk parameters permit.

The two most significant risks in a fixed income portfolio are duration risk (a portfolio’s price sensitivity to changes in the general level of interest rates) and credit risk (the possibility of a loss resulting from a borrower’s failure to repay a loan or meet contractual obligations).

The limited-term strategy is especially suited for the investor willing to accept a moderate amount of duration risk for higher levels of income and higher levels of price volatility. The credit risk component (along with any of the risk parameters) of the strategies City Different Investments offers can be modified based on the client’s individual risk tolerances.

Portfolio Managers


Maturity Range: 1-10 years

Midpoint Neutral Duration Target: 3.5 years

Credit Universe: Investment grade

Benchmark: Bloomberg Muni 1-10Yr Blend (1-12) Total Return Index Value.