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Portfolio Managers Jeff Snyder and Nick Bucklin address misconceptions about SMAs and provide their views on the intricacies of managing municipal portfolios.
Jeff SnyderVice President, Director – Franklin Portfolio Advisors Portfolio Management Municipal Bonds – Separately Managed Accounts
Nick Bucklin, CFAVice President, Portfolio Manager
Portfolio Manager, Nick Bucklin debunks common misbeliefs about the portfolio construction process, including the inability to customize managed municipal portfolios, and misconceptions about liquidity.
Jeff Snyder discusses the importance of credit analysis, access to supply in years of low inventory and purchasing power.
All investments involve risks, including possible loss of principal. Before investing in municipal bonds, you should understand the risks involved, including interest rate risk, credit risk and market risk. The value of the portfolio will fluctuate based on the value of the underlying securities, and you may lose some or all of your principal. Please contact your tax advisor regarding the suitability of tax-exempt investments in your portfolio, the applicability of local taxes and the Alternative Minimum Tax to municipal bond income, and any gains or losses on sales prior to maturity.
Investors should review their investment objectives, risk tolerance and liquidity needs before choosing a manager. There is no guarantee that investment strategies will work under all market conditions and investors should evaluate their ability to invest for the long term, especially during periods of market downturns.
Franklin Separately Managed Accounts is a division of Franklin Templeton Portfolio Advisors, Inc., a subsidiary of Franklin Resources, Inc., a global investment management organization operating as Franklin Templeton.
This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy. It does not constitute legal or tax advice.
The views expressed are those of the investment manager and the comments, opinions and analyses are rendered as at publication date and may change without notice. The information provided in this material is not intended as a complete analysis of every material fact regarding any country, region or market. All investments involve risks, including possible loss of principal.
Data from third party sources may have been used in the preparation of this material and Franklin Templeton ("FT") has not independently verified, validated or audited such data. FT accepts no liability whatsoever for any loss arising from use of this information and reliance upon the comments opinions and analyses in the material is at the sole discretion of the user.
Products, services and information may not be available in all jurisdictions and are offered outside the U.S. by other FT affiliates and/or their distributors as local laws and regulation permits. Please consult your own financial professional or Franklin Templeton institutional contact for further information on availability of products and services in your jurisdiction.
Issued in the U.S. by Franklin Templeton Distributors, Inc., One Franklin Parkway, San Mateo, California 94403-1906, (800) DIAL BEN/342-5236, franklintempleton.com - Franklin Templeton Distributors, Inc. is the principal distributor of Franklin Templeton U.S. registered products, which are not FDIC insured; may lose value; and are not bank guaranteed and are available only in jurisdictions where an offer or solicitation of such products is permitted under applicable laws and regulation.
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