PHILOSOPHY - FIXED INCOME & MONEY MARKET
Our fixed income strategy is geared toward the following objectives:
- Principal preservation
- Inflation protection
- Stable, predictable income generation
Our portfolios are, generally, laddered maturities of treasury issues and investment-grade corporate or municipal issues. Becuase credit quality is extremely important, we are highly selectively in our use of non-investment grade bonds. Portfolio average maturities range from three to eight years in most cases. We are not involved in active trading or swapping techniques or forecasting of short-term changes in interest rates. Typically, we hold fixed income investments to maturity.
Our money market strategy is to provide maximum safety and liquidity, while realizing a competitive yield. We utilize high-quality money market mutual funds, and treasury bills.