As with all of our strategies, PIMCO Targeted Municipal Ladder Managed Account is guided by our top - down global macroeconomic outlook. Rigorous bottom - up analysis drives the municipal bond selection process and facilitates the identification and analysis of undervalued securities.
PIMCO has been managing municipal assets since 1997 and we are among the largest investors in the space today. Our institutional presence in this sector may provide benefits for investors, such as improved pricing and lower transaction costs.
Municipal Bond Philosophy
PIMCO focuses on generating tax - efficient income and capital preservation by investing in high quality municipal bonds that are exempt from federal taxes. We seek well - structured municipal bonds that provide appropriate compensation for risks relating to calls, credit quality, liquidity, tax liabilities, call features and market supply - demand conditions.