OUR CURATED AND CUSTOMIZED MANAGED ACCOUNTS ARE DESIGNED TO MEET THE NEEDS AND OBJECTIVES OF Family offices and the HIGH-NET-WORTH INVESTOR. WE RECOGNIZE THAT MUNICIPAL BONDS ARE YOUR “SAFE” MONEY.

Our portfolios are typically more than 90% AA rated or higher and emphasize liquidity. Our customized and curated portfolios are designed to meet the specific needs of an investor. Among the most common are state specific, cash flow requirements and ladder/maturity preferences. We also offer composite based strategies. We are generally agnostic to the custodian. We provide complementary portfolio reviews. We try to maintain high investment minimums so we can provide personal service.

The Vicksburg Municipal Trading Fund’s primary focus is to extract persistent and repeatable alpha in the municipal bond market. It seeks to do this through two complementary trading strategies that operate in the two parts of the market that consistently have the widest bid/offer spreads.

The OTC New Issue Trading strategy is designed to extract the bid/offer spread in the “new issue” market for high grade tax-exempt municipal bonds as well as capture pricing inefficiencies in the trading and spreads of taxable municipal bonds relative to UST or corporate bonds.  On an annual basis, roughly $550 bn of municipal new issue product comes to market spread among 50,000 issuers which provides fertile ground to deploy capital.  Generally speaking, this strategy focuses on the long end of the market and institutional lot sizes (i.e. greater than $1mm). This strategy has been employed since 2013.

The Electronic ALGO systematic Trading strategy, launched in 2024, focuses on extracting the bid/offer spread in the “retail” part of the market, generally short to intermediate maturities and odd lots.  The retail market tends to have less price sensitive participants.  MSRB data indicates that 95% of the daily trading volume consists of lot sizes of less than $1mm.  The Fund utilizes a propriety model to consume vast quantities of trade data per day, provide evals, and auto-bid the market while systematically adjusting offerings given movements in the market.