Dana Preferred Income Strategy utilizes fixed and variable rate preferred stock securities. We emphasize the use of preferred securities with short to intermediate call dates as they often have a higher yield than government and corporate bonds with similar longer duration, yet exhibit less interest rate sensitivity due to the callable structure of these preferred securities. We believe utilizing these securities will allow us to achieve our clients’ investment objectives with less interest rate risk than comparable investment alternatives.

Objective:
Produce an actively managed portfolio of preferred stock securities that provide attractive yields while maintaining investment grade credit quality and lower overall duration than comparable noncallable preferred stocks.