Fixed Income Strategies
At Crawford Investment Counsel, we regard the allocation to fixed income as one of the client’s safest assets. Our Portfolios are separately managed and customized to meet the needs of the individual client. We select securities from the upper bands of the quality spectrum in order to achieve the mandates of preservation of capital and maximization of income. Our investment process is highly transparent and focuses on the more traditional sectors of the fixed income market.
The Crawford National Municipal Bond strategy concentrates on high quality, intermediate maturity municipal bonds from the national marketplace. Crawford selects individual securities to create a portfolio to meet the specific needs of each client. Crawford invests the portfolio to produce above-market yields, the dominant contributor to total return in the municipal market. Through the extensive research process, Crawford identifies specific sectors and structures that are expected to produce higher-than-market yields over time. The philosophy attempts to limit security or credit risk by purchasing only the upper tier of securities from a quality perspective. Portfolios are diversified among states, sectors, and maturities in order to mitigate risk. The historical return stream is industry leading in terms of low volatility and tax efficiency.
The Core Bond investment strategy is focused on the objectives of capital preservation and income production. We seek to maximize portfolio income while minimizing credit, interest rate, and reinvestment risk. Securities in the U.S. Treasury, government agency, corporate, and taxable municipal sectors are considered for inclusion. Portfolios are structure using a laddered maturity distribution, and typically consist of 20 to 30 securities invested across an intermediate time horizon.
The AMT Municipal Bond strategy is ideally suited for clients who earn high levels of ordinary taxable income and are not subject to the Alternative Minimum Tax. By implementing this strategy, which utilizes AMT-subject municipal bonds, we can add a significant amount of value in the form of higher tax-free yields. The strategy mirrors the National Municipal Bond approach in all other aspects. A detailed conversation with one’s tax advisor is required prior to investing in this strategy in order to determine suitability.
The Enhanced Cash Strategy concentrates on high-quality, short-term municipal bonds. The strategy provides an alternative to tax exempt money market funds.
The portfolio utilizes above-market-rate-coupon municipal bonds with short-term redemption features in order to enhance the overall yield available from short duration bonds.