Small-Cap Value
Small- to Mid-Cap
Large-Cap/Globally Dominant
Equity Strategies
Fixed Income Strategies
Active Municipal Bonds
INVESTMENT PHILOSOPHY
ICM offers to taxable clients an active, total return Municipal Bond strategy. Our active approach to municipal bond management strives to provide competetive tax-free coupon income while taking advantage of market inefficiencies and trading opportunities to produce cumulative after-tax total returns greater than those of a traditional laddered or buy-and-hold strategy over time.
| PORTFOLIO CHARACTERISTICS* | ||
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| ACTIVE MUNICIPAL BOND | ||
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NUMBER OF ISSUES: |
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10-20 |
| DURATION TARGET: |
5-7 | |
| ISSUE MATURITY RANGE: |
1-12 years | |
| BENCHMARK: |
Lehman Brothers 5-Year Municipal Index |
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| MINIMUM ACCOUNT SIZE: |
$1,000,000 | |
| AVERAGE QUALITY: |
AAA-AA | |
| CURRENT YIELD: |
4.5% | |
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*Based upon ICM's Municipal Bond composite, excluding cash and cash equivalents, as of March 31, 2008.