This strategy offers broad exposure across the municipal yield curve and emphasizes generation of income. Investors in this strategy will have a higher tolerance for price volatility relative to shorter duration strategies. Allocations to U.S. Treasury, government-related and corporate bonds may also be considered based on a client’s specific tax rate. The strategy employs active management, bottom-up research and proactive portfolio positioning. This strategy allows clients to bias towards over 30 states for investors with state-tax liabilities.