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Separately Managed Accounts

Short Intermediate National Municipal SMA

Overview

Inception
Date

11.01.2010

Account
Minimum

$250,000

Philosophy

  • Multi-faceted Process Adds Value
  • Conservative Approach to Fixed Income Management
  • Bond Market Inefficiencies Offer Opportunities for Selective Investors
  • Fundamental Research Drives Security Selection

Process

Top Down

  • Duration Management
  • Yield Curve Analysis
  • Sector Analysis

Bottom Up

  • Proprietary Analysis
  • Fundamental Research
  • Security Selection

Short Intermediate National Municipal SMA

Management

View professional designations disclosures

Photo of Andrew  Richman

Andrew Richman, CTFA

Co-Portfolio Manager

Photo of Dow  Taylor, Jr.

Dow Taylor, Jr., CFA®

Co-Portfolio Manager

Performance

All Performance as of 03.31.2023

Term QTR YTD 1 Year 3 Years 5 Years 10 Years Since Inception1
Short Intermediate National Municipal SMA (Gross) 1.77 1.77 2.11 0.82 1.93 1.74 2.24
Short Intermediate National Municipal SMA (Net) 1.40 1.40 0.64 -0.65 0.74 0.77 1.32

1The performance inception date is 11.01.2010. The benchmark is the ICE BofA 1-10Y Municipal Index. Performance is preliminary and is annualized for periods longer than one year. Net of fees performance returns are presented net of the SMA bundled fee, which includes all charges for trading costs, advisory services, portfolio management, custody and other administrative fees. Gross of fees performance returns reflect the deduction of trading costs: a client’s return will be reduced by the management fees and other expenses it may incur. Investment management fees are described in Sterling’s Form ADV 2A. Performance reflects the reinvestment of interest income and dividends and realized capital gains. The performance presented represents past performance and is no guarantee of future results. Performance is compared to an index, however, the volatility of an index varies greatly and investments cannot be made directly in an index. Market conditions vary from year to year and can result in a decline in market value due to material market or economic conditions. Performance for periods greater than one year is annualized. Please refer to the GIPS Composite Report in the Fact Sheet linked below for additional disclosures. Sources: APX; ICE BofA; Sterling Capital Management Analytics.

Short Intermediate National Municipal SMA

Materials

SMA

Insights

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05.22.2023 • Andrew Richman, CTFA

Sterling Capital Viewpoint: The Debt Ceiling

Our view on the current market environment in light of the upcoming debt ceiling deadline.

05.05.2023 • Charles Wittmann, CFA®

The Lead - "Perspective on Quality and Dividend Growth"

- In our study, we took a closer look at the characteristics that we believe were additive to performance for the trailing time periods ended December 31, 2022. - BofA Global Research provided data for the performance of ROE over these timeframes, and it performed well relative to the Russell 1000 Value. - We believe dividend growth was additive to our Equity Income strategy over the time periods studied, which is consistent with the data from Ned Davis Research. - As an investment team, we seek to accentuate the benefits of our investment process to deliver positive outcomes for clients.

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05.04.2023 • Andrew Richman, CTFA

Fed Raises 25 Basis Points But Sets the Table for a Possible Pause

In a move widely anticipated by the markets, the Federal Reserve (Fed) raised rates an additional 25 basis points to arrange of 5.00% to 5.25%. This is the highest in over 15 years and a 5.0% move in a little over 13 months.

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04.27.2023

Press Release: Equity Personnel Updates

Today Sterling Capital announces the resignation of Joshua L. Haggerty, CFA®, Co-Portfolio Manager of the firm’s Special Opportunities strategy, effective immediately. Effective tomorrow, James L. Curtis, CFA® will be promoted to serve as Co-Portfolio Manager of the Special Opportunities strategy.

04.12.2023 • Charles Wittmann, CFA®

The Lead - "Equity Income Fund Wins Lipper Awards"

- In March, the Sterling Capital Equity Income Fund received two Refinitiv Lipper fund awards for the “Best Fund Over 3 Years” and the "Best Fund Over 5 Years” in the Equity Income Funds category. - First, we see the awards as confirmation that the investment team is managing its investments consistent with its stated mission. - Second, we recognize the winners are the clients who have been invested in Sterling Capital Equity Income over the past three and five years. - We are happy and excited that the true winners are our valued clients.

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03.24.2023

Sterling Capital Equity Income Fund receives two 2022 Lipper Fund Awards

Sterling Capital Management is delighted to announce that our flagship Equity Income Fund received two Lipper Awards in the March 23, 2023 award ceremony in New York. Co-portfolio managers Chip Wittmann, CFA® and Jeremy Lopez, CFA®, were in attendance to accept this prestigious honor. The Equity Income Fund R6 Share Class (ticker: STREX) won in the three-year performance category, from a peer group of 390 equity income funds. The Equity Income Fund Institutional Share Class (ticker: BAEIX) won in the five-year category, from a peer group of 374 equity income funds.

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