Dana’s Municipal Bond Strategy is tax-exempt portfolio of high quality, shorter duration, and self-amortizing fixed income securities. We believe a well-diversified investment portfolio should contain high quality fixed income allocation focused on preservation of principal, liquidity management and higher yields. Our active management focuses on individual bond characteristics to capitalize on relative valuation as opposed to predicting interest rate movements. Risk management is ongoing throughout the process focusing on client specific needs to deliver consistency of returns and reduce portfolio volatility. Managing high-quality, tax exempt portfolios is one of Dana’s earliest specialties. Today the Strategy is used in asset allocations to provide tax exempt income and mitigate taxes for individuals or corporations. We seek to deliver excess tax-free yield over the benchmark index with a concentrated focus on credit quality and duration enabling returns to positively traverse both up and down markets.