Municipal Bond
Seeking attractive relative value within the investment grade municipal bond universe through a disciplined, research driven and risk-managed approach.
$6.6B
Assets Under
Management
11
Investment professionals
28+
Average years of investment industry experience
Numbers as of 09/30/2025
Our strategies seek higher returns than passive strategies, and with less principal volatility than the broad fixed income market.
To be able to achieve this objective, the team believes that bottom-up security selection driven by integrated credit research can help find undervalued municipal bonds and avoid potential holdings which are overvalued or poised for downgrade.
Our Differentiators
We believe municipal bond markets exhibit certain inefficiencies which a skilled active manager can potentially exploit utilizing detailed credit research and fundamental analysis in the realms of spread decisions, yield curve positioning, and security selection.
Sector/ Spread Decisions
Our fundamental research and quantitative tools help to provide us a lens for identifying mispricing at the state, quality band, and sector level.
Yield Curve Positioning
We can seek to position portfolios advantageously in anticipation of future reshaping of the municipal yield curve, while still maintaining duration neutrality to our benchmark.
Security Selection
We believe our rigorous fundamental research on individual issuers, combined with the experience of our traders and portfolio specialists, position us to seek mispriced bonds in the marketplace.
Research-Driven Security Selection
The team considers many criteria in selecting securities for clients, including: 1) yield curve positioning; 2) price/option adjusted spread analysis; 3) quality analysis; 4) sector analysis; and 5) total return horizon analysis. Our disciplined risk management strategy uses extensive credit and quantitative tools to select and identify individual securities that we believe best meet customized objectives.
Strategically, portfolio managers look for opportunities to outperform a client’s stated risk tolerance versus the benchmark by identifying relative value opportunities among sectors and securities, and exploiting shifts of relative value on the yield curve.
Our Approach
Our disciplined investment strategy enables our team to construct high quality portfolios for our clients through the utilization of rigorous risk management techniques and an integrated, proprietary credit research process.
Active Municipal Bond Portfolio Construction
High-quality portfolio construction
Primary and Secondary Muni Market Access
Performed by our team of seasoned traders and portfolio specialists
Macro Views
Sourced from Loomis Sayles’ Macro Strategies Team consisting of 20+ macro, sovereign, and quantitative researchers
Quantitative Evaluation and Risk Management Tools
Provide a systematic view of relative value among sectors, quality, and issuers within a robust risk framework
Fundamental Municipal Credit Research
Ongoing monitoring performed by experienced industry practitioners
Our Strategies
The Loomis Sayles municipal bond strategies utilize investment grade, core municipal sectors and seek to provide higher total returns than what is typical from passive strategies and with less principal volatility than the broad fixed income market.
We offer a range of products spanning various duration profiles and also offer state specific/state-preference options for California, Massachusetts, New Jersey, New York and Pennsylvania.
6 Investment Offerings
| Strategy Name | Type | AUM | Inception Date |
|---|---|---|---|
| 3-15 Year National Municipal Bond | Fixed | $4 billion | 9/1/1991 |
| Core Municipal Bond | Fixed | $4 billion | 9/1/1991 |
| Intermediate Municipal Bond | Fixed | $1.8 billion | 5/1/1994 |
| Short Duration (3 Year) Municipal Bond | Fixed | $358.8 million | 4/1/1993 |
| Product Name | Asset Class | Documents |
|---|---|---|
| Fixed | ||
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| Document | ||
| Product Name | Team |
|---|---|
| Core Municipal Bond Managed Account | Municipal Bond |
| Intermediate Municipal Bond Managed Account | Municipal Bond |
Meet the Team
Thought leadership and insights from the team
Municipal Market Update
The latest quarterly Municipal Market Update by the Loomis Sayles Municipal Bond Team.
Municipal Marketplace: Can single state portfolios be advantageous?
We often receive inquiries from clients and prospective clients about single state municipal bond portfolio management.
Municipal Bond Outlook: Strong Demand Likely to Buoy the Market
Read our 2025 outlook for the municipal bond market, including views on demand, issuance, and expected tax policy proposals.
Contact the Municipal Bond Team
We’re looking forward to hearing from you.
Mike Skurka, CFA
Investment Director
Important Disclosure
This marketing communication is provided for informational purposes only and should not be construed as investment advice. Investment decisions should consider the individual circumstances of the particular investor. Any opinions or forecasts contained herein, reflect the subjective judgments and assumptions of the authors only, and do not necessarily reflect the views of Loomis, Sayles & Company, L.P. Investment recommendations may be inconsistent with these opinions. There is no assurance that developments will transpire as forecasted and actual results will be different. Information, including that obtained from outside sources, is believed to be correct, but we cannot guarantee its accuracy. This information is subject to change at any time without notice.
KEY RISKS: Credit Risk, Issuer Risk, Interest Rate Risk, Liquidity Risk, Prepayment Risk and Extension Risk
Investment vehicles may not be available to all investors and are subject to eligibility.
There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return.
Any investment that has the possibility for profits also has the possibility of losses, including the loss of principal.
Market conditions are extremely fluid and change frequently.
Past performance is no guarantee of future results.