APA is Dedicated to excellence in fixed income Portfolio Management.

Charles Doty Ranked by Barron’s for “America’s Top 100 Independent Financial Advisors”

Charles Doty Named One of the Nations' Top Independent Financial Advisors for the Third Consecutive Year. Atlanta, Georgia, August 26,

Announcing the addition of Amanda Richter as a Senior Municipal Analyst on APA’s Credit Analysis Team

Asset Preservation Advisors (APA), an Atlanta based Investment Advisory firm, proudly announces the addition of Amanda Richter as a Senior

Kevin Woods Quoted in WSJ Online

April 16, 2013, 4:21 p.m. ET Birmingham Water Offers Muni Deal at Punitive RatesBy Kelly Nolan ..... Kevin Woods, principal

To listen to Asset Preservation Advisors most recent podcasts, please visit the Podcast section of our website, or click the View Archives button directly below

APA’s Insights on Current Market Conditions

June 20, 2013

Municipal Credit Update

September 04, 2012

Credit research. How has the game changed?

May 30, 2012

APA Addresses Investors Concerns with the Recent Volatile Market

Beginning with his remarks May 22nd before a Congressional committee and again on June 19 at a press conference following

APA Special Market Report

Interest Rates and Municipal Bonds Headlines declaring the end of the 30 year bull market for bonds coupled with May’s

APA’s Response to Stockton Bankruptcy

On June 27, 2012, the City Council of Stockton, California voted 6 -1 to adopt a spending plan for operating

Investment Philosophy

Home / Investment Philosophy

Asset Preservation Advisors believes that there are pricing inefficiencies in the municipal bond market.  We seek to capitalize on these and add value through active portfolio management.  Our mission is to protect our clients’ principal and enhance yields by investing in high quality investment grade municipal securities, primarily in the secondary market.

We believe that buying and selling of municipal bonds must be strategically executed due to the nuances of this non-transparent, over the counter market where price mark ups and factors such as large supply and demand imbalances can dramatically influence overall bond prices.  APA’s municipal investment experience combined with our extensive broker/dealer relationships assist us in our goal of obtaining the best execution for our clients’ portfolios.

APA does not utilize passive account management, but will vary portfolio structure due to changing market conditions.  We believe this approach tends to reduce volatility while creating the most favorable risk/return profile for our clients.

Active Portfolio Management

APA’s focus is on tailoring portfolios to meet the unique investment and estate needs of each client.  We utilize active account management, effective trade execution and credit/interest rate analysis to capitalize on opportunities in the fragmental municipal bond market.APA’s Focus Is On:

  • Yield Curve Analysis – Analyzing the slope of the yield curve to determine the most favorable risk/reward profile.
  • Duration Management – Maintaining duration close to the benchmark, but varying portfolio structure (barbell, ladder, bullet) depending on market conditions and client profile.
  • Sector Allocation – Capitalizing on temporary imbalances in supply and demand among various sectors.
  • Credit Analysis – Monitoring changing yield spreads to capture incremental yields and identify potential upgrades and downgrades by the rating agencies.
  • Security Selection – Striving to add value for our clients through trading and security selection.  We attempt to exploit market inefficiencies and purchase certain municipal securities when we believe they are trading below intrinsic value.