CORE PLUS PRODUCT
INCOME & GROWTH FOCUSED
6.52% ANNUALIZED FROM
12/31/12
The above data is based upon the average annual returns since 12/31/12. Past performance is not a guarantee of future results. Results listed are as of
6/30/25.
Results are based on data produced using outsourced portfolio management software that is fed directly by the clearing bank.
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YTD - 06/30/25 - 2.17%
1 year - 5.52%
3 year - 9.31% (annualized)
5 year - 6.52% (annualized)
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Core Plus Fact Sheet
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The above data is based upon the composite average annual returns since 12/31/12 net of fees. Past performance is not a guarantee of future results. The results listed are as of
6/30/25.
The flagship AHW Core Plus Portfolios seek to generate total return while simultaneously maximizing income exempt from federal and state taxation. Core Plus employs AHW’s actively managed barbell strategy wherein premium coupon bonds that mature between fifteen to thirty years generate requisite income yet still possess defensive characteristics that cushion against rising interest rate environments. Core premium coupon bonds are complemented by a modest short-term cash or cash-equivalent component.
The PM Team employs leverage to purchase additional bond positions when it identifies trading opportunities. Active yield curve and relative value analysis determines which bonds are purchased in contrast to passive laddered alternatives. Portfolio manager oversight allows for swapping to improve portfolio characteristics, as appropriate. Portfolio managers will harvest tax losses and re-invest proceeds to generate additional income. Modified durations of Core Plus base portfolios will range from 6 to 9 years while intermittent use of leverage may increase durations. Portfolios possess an average AA rating to facilitate liquidity. Core Plus portfolios can utilize bonds that are subject to the AMT preference tax as well as taxable municipal securities.
The Core Plus product originated in 2012.
The Bloomberg Municipal Index measures the performance of the Bloomberg U.S. Municipal bond market, which covers the USD- denominated Long-Term tax-exempt bond market with four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and pre-refunded bonds.
AH Williams portfolios have the ability to invest in AMT bonds as well as taxable municipal securities.
Click Here for important disclosure information about the Core Plus program