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 | Strategy | Index |
|---|---|---|
| Assets (millions) | $35.8 | |
| Inception | 12/31/1999 | |
| Weighted Avg YTM | 1.3% | 1.6% |
| Duration | 3.5 | 4.8 |
| Average Coupon | 2.7% | 3.9% |
| Benchmark | Barclays U.S. Aggregate Bond |
| Sectors | Strategy | Index |
|---|---|---|
| U.S. Treasury | 20.3% | 37.6% |
| Agencies & MBS | 29.0% | 34.3% |
| Corporate | 41.2% | 22.9% |
| Foreign | 7.3% | 2.6% |
| Preferred Stock | 2.2% | 0.0% |
| Municipals | 0.0% | 1.4% |
| Ratings | Strategy | Index |
|---|---|---|
| Aaa | 57.1% | 70.2% |
| Aa | 8.6% | 3.5% |
| A | 16.9% | 10.1% |
| Baa | 13.2% | 11.5% |
| Ba & Lower | 0.8% | 3.5% |
| Not Rated | 3.2% | 1.2% |
