MacKay Municipal Managers™ team of MacKay Shields is co-headed by John Loffredo and Robert DiMella. Portfolios are managed by a team of portfolio managers and analysts with an average of more than 20 years of investment experience. The team’s tenure, skill, and proficiency allows its members to focus on exploiting market inefficiencies in order to build a yield advantage and seek to achieve attractive after-tax total returns through fundamental, in-depth credit research. The team's proven experience in municipal securities markets includes investing in investment grade, high yield and taxable municipals, as well as tender option bonds, municipal inflation-protected bonds, floating rate notes, and variable-rate demand obligations.