Fixed Income
|
The emphasis is quality!
Rising income needs should be addressed by owning more bonds, not lower quality, higher yielding bonds -- we do not "reach" for yield.
|
|
|
Triton's Approach
Fixed income investments are generally used to produce a stable income stream, preserve capital, provide liquidity for future obligations, and manage risk within long-term investment policy guidelines. We believe that rising income needs should be addressed by owning more bonds, not higher yielding, lower quality bonds. Taxable income requirements are generally met through U.S. Treasury obligations, while tax-exempt income requirements are met using municipal securities whose non-insured credit rating is generally A rated or better.
|
Management Style
Laddered approach using taxable or tax-free bonds
Intermediate term structure of the portfolio with bond maturities generally of 10 years or less
Focus on high quality (A or better) securities
May adjust average portfolio maturity as economic cycle dictates
|
|
We blend a primarily laddered investment approach with limited elements of active management.
|
|