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High Yield Municipal Strategy

The strategy focuses on generating a strong and consistent stream of tax-exempt income by investing in municipal securities using a bottom-up approach suited for identifying issuers with strong fundamentals offering higher coupons than the overall market.

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Philosophy

The team believes a high level of income and strong absolute performance can be generated through active management of sector allocation, issue selection, and yield curve positioning. The team seeks to add value by generating a higher relative level of income, engaging in intensive fundamental credit research, and identifying points on the yield curve with the greatest return potential.    

 

Documents

Managed by

Adam A. Weigold, CFA

Senior Portfolio Manager, Head of Municipal Bonds, Manulife Investment Management

Adam is a senior portfolio manager and head of the firm’s municipal bond team, overseeing municipal bond portfolio construction, security selection, and yield curve positioning. Prior to joining the firm, Adam was a senior portfolio manager with the municipal bond department at Eaton Vance Management, where he managed an array of municipal bond strategies. These spanned a wide spectrum of the municipal bond market, ranging from state-specific strategies to ones focused on the market’s floating-rate and high-yield segments, short duration strategies, and strategies involving the use of hedging and derivatives. His prior portfolio management experience extended to a separately managed account program focused on build America bonds and closed-end mutual funds. Before working as a senior portfolio manager, Adam held several roles of increasing responsibility in Eaton Vance’s municipal bond department, including research associate, credit analyst, and senior credit analyst. He holds the Chartered Financial Analyst designation.

  • Education: A.B., History, Dartmouth College; M.B.A., Finance, Questrom School of Business, Boston University
  • Joined the company: 2021
  • Began career: 1998
Adam A. Weigold, CFA

Dennis DiCicco

Portfolio Manager, Municipal Bond Team

Dennis focuses on municipal bond portfolio construction involving security selection and yield curve positioning. He also works on maximizing income generation along with total return across all municipal bond strategies. Previously, he worked as an investment analyst on the municipal bond team. Prior to joining the firm, Dennis was a fixed-income trader at Capital Security Advisors and, before that, he worked in institutional municipal bond sales at Cantor Fitzgerald and Sterne Agee and Leach. Dennis is a member of the Boston Municipal Analysts Forum.

  • Education: B.A., Marketing and Finance, Bentley University
  • Joined the company: 2016
  • Began career: 2008
Dennis DiCicco

Vehicles

At Manulife Investment Management, we offer investment strategies through a variety of vehicles to suit a broad range of client needs. Contact our institutional sales or consultant relations team to find out if this strategy/vehicle is offered in your region. 

  • Separate accounts

    Our separate accounts and separately managed accounts (SMAs) are designed for institutions and high-net-worth clients seeking tailored investment solutions and direct ownership of securities. 

    See UCITS funds

  • Pooled Funds

    Our professionally managed Pooled Funds are available to qualified institutions.

  • Mutual funds

    Mutual funds are liquid, professionally managed portfolios which are available to both institutional and retail investors.

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Related

February 10, 2022

What is quantitative tightening and why it matters

Eric Theoret, CFA, CMT

Eric Theoret, CFA, CMT,  Former Global Macro Strategist, Macroeconomic and Strategy Team, Multi-Asset Solutions Team Manulife Investment Management

The Fed is poised to announce plans to begin quantitative tightening soon. We examine how markets reacted the last time the U.S. central bank moved to reduce the size of its balance sheet.
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Important information

The material contains information regarding the investment approach described herein and is not a complete description of the investment objectives, risks, policies, guidelines or portfolio management and research that supports this investment approach. Any decision to engage Manulife Investment Management should be based upon a review of the terms of the prospectus, offering documents or investment management agreement, as applicable, and the specific investment objectives, policies and guidelines that apply under the terms of such agreement. There is no guarantee investment objectives will be met. The investment process may change over time. The characteristics set forth above are intended as a general illustration of some of the criteria the strategy team considers in selecting securities for client portfolios. Client portfolios are managed according to mutually agreed upon investment guidelines.

This information has been provided by Manulife Investment Management. All material is compiled from sources believed to be reliable and correct but accuracy cannot be guaranteed. This is not to be construed as an offer to buy or sell any financial instrument nor does it constitute an offer or invitation to invest in any fund managed by Manulife Investment Management and has not been prepared in connection with any such offer. This information does not constitute, and should not be construed as, investment advice or recommendations with respect to the securities and sectors listed.

References to securities, transactions or holdings should not be considered a recommendation to purchase or sell a particular security and there is no assurance that, as of the date of publication, the securities remain in the portfolio. Additionally, it is noted that the securities or transactions referenced do not represent all of the securities purchased, sold or recommended during the period referenced and there is no guarantee as to the future profitability of the securities identified and discussed herein.

The indices cited are widely accepted benchmarks for investment performance within their relevant regions, sectors or asset classes, and represent non managed investment portfolio.