Insights

We see the Energy Supply Financing Ratio as an emerging and potentially important signal of how financial institutions are navigating the low-carbon transition.

The social doctrine of the Catholic Church guides its investment policy.

We believe payout ratio is a critical metric in evaluating dividend-paying securities and avoiding the potential pitfalls associated with targeting solely high dividend yield.

We believe that investors may place too much emphasis on high absolute dividend yield when seeking defensive and high income-generating equity exposure.

There are important limitations to relying solely on total return—primarily that not all returns are created equal.

Breckinridge believes a less rigid approach to municipal bond management can pursue objectives similar to ladder strategies while providing flexibility to opportunistically take advantage of changing market conditions.

As a city’s population increases, a municipality’s credit profile can change rapidly. Population growth is typically a favorable credit factor but can introduce challenges as well.

As yields rise or fall, the pace and size of any change in one bond’s prices can be different than another bond.