Investment Options - Wealth Mangement
Fixed Income Investment Managment

Team Approach

In order to develop a fixed income strategy, the First Investment Group Fixed Income Team reviews:

• Economic and inflationary expectations
• Credit quality trends
• Yield curve characteristics

Objective

Our goal is to outperform our investment benchmarks over the long-term by adding value on an incremental basis. Client investment policies, guidelines and tolerance for risk determine the appropriate fixed income index that drives basic portfolio structure. Preservation of principal and current income also are important components of our investment philosophy - we want to limit risk while meeting the income and liquidity needs of our clients.

Investment Process

The Fixed Income Process:

• Review of domestic and global macroeconomic trends with an emphasis on interest rate and inflationary expectations.
• Determine basic portfolio duration and structure with yield curve and sector spread analysis. This step also focuses an attention on the most attractive valued segments of the fixed income market.
• Careful analysis of individual bonds, focusing on liquidity, relative value, and credit quality bring us to security selection.
• Result is a well-diversified portfolio designed for the individual client.

Risk Management

We work towards our objective of adding incremental value to client portfolios without taking excessive risk by:

• Utilizing a team management approach to help us consistently apply our investment process across accounts.
• Employing quantitative tools to both monitor portfolio structure and analyze our strategic decisions.
• Consistently applying an investment strategy within the context of the individual client's policies and guidelines.