Our Services

Monitor and help clients direct portfolio management of Trustee/Fiscal Agent held bond funds and fixed income securities markets. (Note: custody of funds remains with the Trustee/Fiscal Agent.)

Provide client periodic recommendations for securities transactions that may increase earnings consistent with proprietary investment strategies for arbitrage sensitive bond proceeds. (Note: discretion and control remain with the client.)

Monitor current yields of Bond Proceeds investments in relation to the Arbitrage Yield for each issue and alert client of portfolio restructurings that may take advantage of opportunities for increased retained earnings within the arbitrage regulations.

Monitor market values of Bond Proceeds investments in an effort to realize capital appreciation in addition to income to accelerate the recapture of accumulated negative arbitrage.

Evaluate market trends and position portfolios to maximize capital appreciation, income and/or total return consistent with the client's investment policy and Indenture covenants.

Track crossover dates and transfer of proceeds rules for refunding issues to take full advantage of opportunities created by changes in rebate yield during bond refunding.

Provide break-even and book value analyses on investment transactions.

Apply a disciplined, planned approach to methodically eliminate negative arbitrage and, where possible, realize earnings in excess of the Arbitrage Yield that may be exempt from rebate over the life of each bond issue.

Evaluate opportunities to generate positive arbitrage (via qualifying municipal obligations) that is not subject to rebate.

Advise client of transactions, such as monetizing future earnings, which may present retained earnings advantages under arbitrage regulations.

Advise client of opportunities to apply for refunds of rebate.

Keep client informed as to changes or amendments to tax law as it pertains to rebate/arbitrage that impact investment decisions.