{"id":67,"date":"2012-07-10T14:59:32","date_gmt":"2012-07-10T18:59:32","guid":{"rendered":"http:\/\/assetpreservationadvisors.com\/?page_id=67"},"modified":"2012-08-01T10:13:14","modified_gmt":"2012-08-01T14:13:14","slug":"investment-philosophy","status":"publish","type":"page","link":"http:\/\/162.241.140.166\/~asset\/investment-philosophy\/","title":{"rendered":"Investment Philosophy"},"content":{"rendered":"<p>Asset Preservation Advisors believes that there are pricing inefficiencies in the municipal bond market.\u00a0 We seek to capitalize on these and add value through active portfolio management.\u00a0 Our mission is to protect our clients\u2019 principal and enhance yields by investing in high quality investment grade municipal securities, primarily in the secondary market.<\/p>\n<p>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.\u00a0 APA\u2019s municipal investment experience combined with our extensive broker\/dealer relationships assist us in our goal of obtaining the best execution for our clients\u2019 portfolios.<\/p>\n<p>APA does not utilize passive account management, but will vary portfolio structure due to changing market conditions.\u00a0 We believe this approach tends to reduce volatility while creating the most favorable risk\/return profile for our clients.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-68\" title=\"infographic\" src=\"http:\/\/162.241.140.166\/~asset\/wp-content\/uploads\/infographic.jpg\" alt=\"\" width=\"644\" height=\"191\" srcset=\"http:\/\/162.241.140.166\/~asset\/wp-content\/uploads\/infographic.jpg 644w, http:\/\/162.241.140.166\/~asset\/wp-content\/uploads\/infographic-300x88.jpg 300w\" sizes=\"auto, (max-width: 644px) 100vw, 644px\" \/><\/p>\n<hr style=\"width: 100%;\" width=\"100%\" \/>\n<table style=\"width: 100%;\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" align=\"center\">\n<tbody>\n<tr>\n<td style=\"width: 50%;\" valign=\"top\">\n<h4>Active Portfolio Management<\/h4>\n<p>APA\u2019s focus is on tailoring portfolios to meet the unique investment and estate needs of each client.\u00a0 We utilize active account management, effective trade execution and credit\/interest rate analysis to capitalize on opportunities in the fragmental municipal bond market.APA\u2019s Focus Is On:<\/p>\n<ul>\n<li>Yield Curve Analysis \u2013 Analyzing the slope of the yield curve to determine the most favorable risk\/reward profile.<\/li>\n<li>Duration Management \u2013 Maintaining duration close to the benchmark, but varying portfolio structure (barbell, ladder, bullet) depending on market conditions and client profile.<\/li>\n<li>Sector Allocation \u2013 Capitalizing on temporary imbalances in supply and demand among various sectors.<\/li>\n<li>Credit Analysis \u2013 Monitoring changing yield spreads to capture incremental yields and identify potential upgrades and downgrades by the rating agencies.<\/li>\n<li>Security Selection \u2013 Striving to add value for our clients through trading and security selection.\u00a0 We attempt to exploit market inefficiencies and purchase certain municipal securities when we believe they are trading below intrinsic value.<\/li>\n<\/ul>\n<\/td>\n<td style=\"width: 50%;\" valign=\"middle\">\u00a0<img loading=\"lazy\" decoding=\"async\" class=\"wp-image-272 alignright\" title=\"ActivePortfolioManagement\" src=\"http:\/\/162.241.140.166\/~asset\/wp-content\/uploads\/ActivePortfolioManagement.jpg\" alt=\"\" width=\"324\" height=\"315\" srcset=\"http:\/\/162.241.140.166\/~asset\/wp-content\/uploads\/ActivePortfolioManagement.jpg 324w, http:\/\/162.241.140.166\/~asset\/wp-content\/uploads\/ActivePortfolioManagement-300x291.jpg 300w\" sizes=\"auto, (max-width: 324px) 100vw, 324px\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\">\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asset Preservation Advisors believes that there are pricing inefficiencies in the municipal bond market.\u00a0 We seek to capitalize on these and add value through active portfolio management.\u00a0 Our mission is to protect our clients\u2019 principal and enhance yields by investing<\/p>\n<p><a class=\"read-more\" href=\"http:\/\/162.241.140.166\/~asset\/investment-philosophy\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":77,"parent":0,"menu_order":3,"comment_status":"closed","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-67","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"http:\/\/162.241.140.166\/~asset\/wp-json\/wp\/v2\/pages\/67","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/162.241.140.166\/~asset\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/162.241.140.166\/~asset\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/162.241.140.166\/~asset\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/162.241.140.166\/~asset\/wp-json\/wp\/v2\/comments?post=67"}],"version-history":[{"count":5,"href":"http:\/\/162.241.140.166\/~asset\/wp-json\/wp\/v2\/pages\/67\/revisions"}],"predecessor-version":[{"id":79,"href":"http:\/\/162.241.140.166\/~asset\/wp-json\/wp\/v2\/pages\/67\/revisions\/79"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/162.241.140.166\/~asset\/wp-json\/wp\/v2\/media\/77"}],"wp:attachment":[{"href":"http:\/\/162.241.140.166\/~asset\/wp-json\/wp\/v2\/media?parent=67"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}