Volatility and Current Opportunities in Municipals
Tuesday, July 19, 2022
2:00 PM EDT | 11:00 AM PDT
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In this session, we look back on the recent volatility the municipal market has experienced and discuss actionable items advisors can take as a result of the volatility.
In this webinar we will discuss:
- The $1.6 trillion in covid-related federal stimulus municipal issuers now have access to and how this may affect long-term forward looking credit fundamentals.
- Despite concerns regarding COVID-19, the economy and inflation, municipal bonds can help mitigate overall portfolio risk. Municipal bonds have historically had very low correlations to other asset classes and may be effective portfolio diversifiers.
- Take advantage of recent market volatility and look for the opportunity to tax loss harvest in your municipal book.
Invesco Distributors, Inc. is not affiliated with Advisor Perspectives.
The opinions expressed are those of the author, are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals. This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.
Municipal securities have the risk that legislative or economic conditions could affect an issuer’s ability to make principal and/or interest payments.
Invesco Distributors, Inc. does not provide legal or tax advice. This information is provided for general educational purposes only and is not to be considered legal or tax advice. Investors should consult with their legal or tax advisors for personalized assistance, including information regarding any specific state law requirements.
Chief Investment Officer and Head of Municipals
Mark Paris is the Head of Municipal Strategies for Invesco Fixed Income. In this capacity, he is responsible for the oversight and implementation of all municipal bond strategies.
Mr. Paris entered the financial industry in 1990 and joined Invesco in 2010 when the firm combined with Van Kampen Investments. Prior to joining the firm, Mr. Paris was a trader and then a portfolio manager on the municipal fixed income team at Morgan Stanley/Van Kampen, which he joined in 2002. He also was previously a trader and portfolio manager at Oppenheimer Funds, head underwriter at Chase Manhattan Bank, and a trader and underwriter at NatWest Bank.
Mr. Paris earned a BBA in finance from Baruch College of the City University of New York.
Head of Municipal Business Strategies and Development
Stephanie Larosiliere is the Head of Municipal Business Strategies and Development for the Invesco Municipal Bond team. Ms. Larosiliere works with the fund management team, acting as its representative to clients and other intermediaries. Her responsibilities include working with sales staff and clients to provide insight into the municipal fixed income market and the investment strategies utilized by the team. She is also responsible for ongoing product development and marketing for the municipal bond products.
Ms. Larosiliere joined Invesco in 2011 as a senior product manager supporting the municipal and convertible businesses. Prior to joining Invesco, Ms. Larosiliere served as a vice president of the Goldman Sachs Asset Management fixed income product management team, where she was responsible for portfolio analysis, product development, client retention, and marketing. Before joining Goldman Sachs in 2008, she worked as an institutional product management associate for Brown Brothers Harriman. She began her career in the industry in 2003 as a risk management analyst with JPMorgan Chase, where she was responsible for performing daily value at risk analysis and monthly stress risk tests on the bank’s credit portfolio.
Ms. Larosiliere earned a BBA degree in finance and investments from Baruch College — The City University of New York (CUNY).
Product Director Product Director of Municipal Strategies
Timothy (Tim) Spitz is a Product Director for the Business Strategy and Development team at Invesco. In this role, he is responsible for communicating and promoting the municipal bond team’s investment objectives and strategies, cultivating relationships with distribution and clients, and providing insights into the market, product performance, and competitive analysis. Mr. Spitz joined Invesco when the firm combined with OppenheimerFunds in 2019. He joined OppenheimerFunds in 2008 as a vice president and product director for the municipal division. Prior to that, Mr. Spitz worked as a financial advisor at A.G. Edwards, and as an underwriting supervisor at JPMorgan Chase. Mr. Spitz earned a BA degree in business administration from Furman University. He holds the Series 7, 24, and 63 registrations.
CEO and Founder
Robert Huebscher is the founder and CEO of Advisor Perspectives and serves as its editor-in-chief. He is a frequent speaker at industry conferences and has written extensively on topics including investment management, portfolio construction, financial planning and global economics.