MMA's Municipal Bond Portfolio Management Course
A comprehensive understanding of what it means to manage a municipal bond portfolio
25% Discount Available to MMA Clients Through September!
Email [email protected] for your unique discount code today!
About the Course:
MMA's Municipal Bond Portfolio Management Course guides you through the important function of a portfolio management in the municipal bonds market. The program discusses the different types of investment management organizations, clients, and vehicles. You will gain a detailed understanding of: the portfolio management process, various municipal security demand components (i.e., banks, insurance companies, mutual funds, SMA's, ETF's, etc.), taxable vs. tax-exempt institutions and clients, active vs. passive management, municipal bond ladder and hybrid portfolios, the connections between risk management, trading, and credit research, how to perform relative value analysis and compliance tasks, and the key Bloomberg functions and other data sources most used by a portfolio manager.
You will learn about workflow management, how to bid for bonds, how to view technicals and fundamentals in the context of management a bond portfolio, how to interpret various spread and liquidity measures. You will gain a deeper understanding of diversification in the municipal market, coupon structures, spreads and option adjusted spreads, total return analysis, the use and importance of benchmarks, indices and evaluations, interest rate and yield curve analysis, and much more.
The program is 100% online and provides a library of recorded lectures.
~3 full lecture hours!
Who Should Enroll:
- Municipal professionals who want to acquire new skills in the area of municipal portfolio management.
- Seasoned municipal analysts, bankers, traders, underwriters, and bond sales professionals aspiring to transition into the portfolio management role.
- New municipal industry entrants looking to understand the of a portfolio manager.
- New foreign or domestic entrants to the municipal market looking to understand how to manage municipal bond portfolios..
- Municipal issuers wanting to gain a better understanding of who their lenders are and how they are managing municipal debt.
MMA clients include nearly every leading investment firm, bank, security dealer, and financial advisor. In addition, the industry’s major issuers and key regulators of the financial industry are the firm’s core research clients.
Your Instructor
Raymond J. Kubiak, CFA
Ray Kubiak is a retired fixed income portfolio manager and research analyst, with over 40 years of experience. Ray headed the municipal bond team and the taxable/tax-exempt crossover strategy at Standish Ayer & Wood (SA&W) and was instrumental in building the firm’s taxable client business. He later led the Insurance Client Strategies group at SA&W’s successor firm, Standish Mellon Asset Management. At Longfellow Investment Management, he was responsible for the intermediate duration portfolio strategy, as well as investing for taxable clients. In addition, he has research and client service experience in global bonds. Ray began his investment research career at Moody’s, and prior to that was a budget analyst in state government.
Over the course of his career Ray worked with nearly every type of institutional client, including property/casualty and life insurers, pension funds, endowments, foundations, mutual funds, nuclear decommissioning trusts, personal injury trusts, stable value plans, non-profit institutions, and overseas clients. He has considerable experience working with family offices and high net worth individuals. At SA&W, Ray’s municipal bond portfolios consistently outperformed benchmarks, and at Longfellow, the intermediate duration fixed income strategy was recognized with top manager awards for consistent risk adjusted returns.
Ray was a partner and served on the Executive Committee of the Board of Directors at SA&W and ran several operating committees of the Board. He also served on the Board of Managers at Longfellow. Ray was Chairman of the Board of Governors of the National Federation of Municipal Analysts and has spoken at numerous industry and client conferences.
A Chartered Financial Analyst, Ray is a graduate of Canisius College, Buffalo NY. He earned an MPA degree with a certificate in Urban Management from the University of Pittsburgh’s Graduate School of Public and International Affairs, and an MS in Finance from Boston College Carroll School of Management. He recently completed a Master of Liberal Arts degree in Government with a certificate in International Relations from Harvard Extension School.
Sign Up Today!