Fixed-Income Allocation

(Research Process)

Market Conditions

·    Target Duration Analysis

·    Duration Structure

·    Quality Selection

·    Sector Selection

·    Call Protection

Tax Consideration

·    Corporate Bonds

·    Government Bonds

·    Municipal Bonds

Portfolio Construction

·    Risk/Return

·    Cost Control

·    Laddered Maturities

·    Structured Strategies

Portfolio Monitor

·    Weekly Review of Holdings

·    Monitor Quality Changes

·    Access Economic Conditions