Webcast: Tuesday, July 23rd, 1PM ET
Accepted for 1 CFP®/IWI/CFA CE Credit.
The Year of FUNDamental Municipal Investing: A Mid-Year Update
Tune in to "The Year of FUNDamental Municipal Investing: A Mid-Year Update," to explore the shifting financial landscape as we reach the mid-point of 2024. With inflation on a downward trend and the Federal Reserve holding rates steady, discover what's next for municipal bonds. Learn about the impact of tax policy, the importance of tax-free income, and the critical role of credit research in maintaining a diversified, resilient portfolio from MacKay Municipal ManagersTM, a recognized leader in active municipal bond investing.
Discussion Topics:
- Macro Backdrop
- Municipal Market – Complex and Evolving
- Active Management
- Top 5 Municipal Market Insights for 2024 - “The Year of FUNDamental Municipal Investing”
- Municipal Bond Asset Allocation Strategies
Sponsors of this webcast may contact registrants.
Accepted for one hour of CFP®, CFA® & CIMA®, CIMC® or CPWA® CE Credit
Municipal bonds have offered attractive after-tax yields
Historically, municipal bonds have provided a potential after-tax revenue stream.
Finding relative value across the yield curve
There is a potential opportunity on the longer end of the curve with higher yields, and mutual funds could be the vehicle of choice to capitalize.
MACKAY MUNICIPAL MANAGERS’ 2024 INSIGHTS
The specter of rising taxes increases the value of tax exemption
Fiscal, state, and local governments are feeling financial pressure as they’ve exhausted their funds. This could lead to an increase in taxes across all levels and heighten the value tax-exempt investment options.*
Taxable municipals can provide attractive yields and returns
With a unique orientation towards infrastructure, and returns comparable to U.S. corporates, taxable municipal bonds can offer a naturally longer bond with more potential income.
SPEAKERS
David is a Managing Director at MacKay Municipal Managers and Portfolio Manager of the NYLI MacKay municipal bond funds. His primary focus is on the investment-grade and intermediate segments of the municipal market.
David joined the firm in 2009 in his current role. Previously, he was Chief Investment Officer at Financial Guaranty Insurance Company. David was also a Senior Portfolio Manager at Alliance Capital Management and Municipal Strategist at Merrill Lynch & Co. He has worked in the financial services industry since 1989.
David earned a A.B. in Biology from Brown University and an M.B.A. from Columbia University.
Eric focuses on client relationship management and business development initiatives for MacKay Municipal Managers team. Eric joined MacKay Shields in October 2021. Prior to joining the firm, Eric was a Product Manager at New York Life Investments covering the MainStay/IndexIQ municipal bond product suite. From 2011 to 2018, Eric worked at PGIM Investments most recently as a product manager covering their public real estate and municipal fixed income products. He started his career at Bank of America Merrill Lynch in 2007, serving most recently as a Merrill Edge Financial Solutions Advisor. Eric earned a B.S. in finance from the University of Rhode Island. He is a CFA Charterholder and holds FINRA 7 and 66 securities registrations and has been in the investment industry since 2007.
*This material contains the opinions of the MacKay Municipal Managers™ team of MacKay Shields LLC but not necessarily those of MacKay Shields LLC. The opinions expressed herein are subject to change without notice. This material is distributed for informational purposes only. Forecasts, estimates, and opinions contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Any forward-looking statements speak only as of the date they are made and MacKay Shields assumes no duty and does not undertake to update forward-looking statements.
MacKay Municipal Managers is a trademark of MacKay Shields LLC, a wholly owned subsidiary of New York Life Investment Management Holdings LLC, which is wholly owned by New York Life Insurance Company.
“New York Life Investments” is both a service mark, and the common trade name, of certain investment advisors affiliated with New York Life Insurance Company. Securities are distributed by NYLIFE Distributors LLC, 30 Hudson Street, Jersey City, NJ 07302, a wholly owned subsidiary of New York Life Insurance Company.
FOR REGISTERED REPRESENTATIVE USE ONLY. NOT TO BE USED WITH THE GENERAL PUBLIC.
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