Structured Products

Our Structured Products Group is dedicated to developing and implementing investment strategies associated with municipal debt issuance, including project, reserve, capitalized interest, and refunding escrow accounts. We provide highly customized technical skills, market access and the experience required to devise an optimal, dynamic approach for each of our clients' specific funds.

Our solutions include analysis of various reinvestment alternatives, including structured portfolios, actively-managed portfolios, structured investment agreements, investment pools and other money market instruments. We aim to always provide an objective investment recommendation that we believe represents the best approach for each client.

Our Structured Products Group is an innovator in the identification and execution of investment strategies for refunding and defeasance escrow accounts. We utilize a unique security-by-security optimization and procurement process emphasizing documentation and compliance with all applicable regulations.

When appropriate, we may recommend the use of structured investments for certain funds. For these engagements, we advise our clients regarding the distinguishing factors of various types of structured investments. Most notably we advise on how the mechanics of each structure impacts the credit risk and ability to obtain a clean bankruptcy opinion from the provider’s counsel.

Lastly, our recommendations are always made in the context of current and reasonably expected market conditions while taking into account the historical averages and the nature of the business and interest rate cycles.


Featured Article

Pulling Back the Curtain on Investing Bond Proceeds

In the following Q&A session, Christopher Harris discusses PFM Asset Management’s strategy and views when it comes to investing bond proceeds.

Why work with PFMAM?

With more than 40 years of experience, we serve public sector, non-profit and other institutional clients. We combine national perspective with local connection to build tailored, flexible investment solutions across fixed income and multi-asset class strategies. Our focus is on liquidity management, investment-grade fixed income and outsourced chief investment officer (OCIO) solutions. We look forward to working with you to develop bespoke solutions to your specific needs.