FIXED INCOME

This style is managed to achieve capital preservation and moderate levels of income.  The vast majority of the investments are concentrated in Exchange Traded Bond Funds with high credit quality and low durations.  The ETFs used are passive investment vehicles.  Laidlaw Group also buys individual fixed-income securities where appropriate.  This composite consists of accounts that are tax-exempt.  For taxable accounts, the managers include individual municipal bonds and muni-ETFs in portfolios.

 

Characteristics  Composite      Index
Assets (millions) $14.8  
Inception 12/31/1999  
Weighted Avg YTM 1.8% 1.0%
Duration 4.4 2.7
Average Coupon 3.5% 2.6%
Benchmark Barclays Bond Index 1-5 Govt/Corp  

 

Sectors Composite Index
U.S. Treasury 37.5% 57.7%
Govt Sponsored 26.6% 13.3%
Corporate 25.5% 21.6%
Foreign 7.5% 7.4%
Preferred Stock 3.0% 0.0%
Municipals 0.0% 0.0%
Ratings Composite Index
US Government/Agency 64.1%  70.9%
Aa & Above 12.8%  10.8%
A 10.4%  11.4%
Baa 6.6% 6.9%
Ba & Lower 0.8% 0.0%
Not Rated 5.4% 0.0%