The municipal bond asset class has experienced a dramatic transformation over the last few years. We believe that passive approaches are less effective at navigating new developments in this fragmented market landscape. Buy-and-hold “strategies” can miss some of the better trading opportunities that present themselves in a market that is in many ways inefficient. We are proactive in our approach. We seek to mitigate the impact of market volatility and take advantage of the idiosyncracies of this asset class on behalf of our clients. There are many benefits to investing in municipal bonds, but it makes sense to do so with the assistance of an experienced specialist.