Municipal Bonds as a Core Asset Class – Transamerica – 8.22.17

Summary:

Now On Demand.

There are many macro motivations for seeking Municipal Bond investing including infrastructure needs and potentially higher income tax rates for the wealthiest. However, we will make the fundamental case that Munis make a core asset class due to the size and diversity of the market, the availability of high credit quality, low default rates, and competitive tax-equivalent yields.

Investors in fixed income have often debated the advantages and disadvantages of employing professional management in pooled vehicles like mutual funds versus purchasing individual issues that can be held to maturity. We will discuss the pricing differences between institutional and retail investors and the benefits of scale in laddering portfolios.

Finally, we will offer an institutional investing perspective that focuses on managing risk while seeking opportunities. Through thorough research and careful valuation analyses, investors can take advantage of opportunities that accompany the potential pitfalls of the muni market like Puerto Rico, Detroit, and Chicago.

• Attributes of Core Asset Classes & Municipal Bonds
• The Real Costs of Trading
• Specific Opportunities from Active Management

Speakers:

Dan O’Brien is the Head of Institutional Development and Consultant Relations at Belle Haven Investments. He has been working in the financial services industry for over 25 years, in positions covering all channels of the retail and Institutional marketplace. Dan has built great relationships throughout Wall St. over the years with firms focused in Fixed Income, Equities, and Alternative Investments. He has held senior roles with John Hancock, Wells Fargo and Nuveen Investments. He joined Belle Haven Investments in 2015. He began his career at Lehman Brothers in 1989. Mr. O’Brien resides in Pound Ridge, New York with his wife, Laura and their two children.