Fixed-Income Investment Credo
The Philadelphia Trust Company, for client fixed-income portfolios, will employ an active investment management philosophy that will achieve client objectives, focus on total after-tax return, and utilize only high quality ("A" rated or higher) marketable securities. The maximum maturity will be ten years with maturities strategically positioned.
The bonds included in a portfolio will be diversified in order to reflect our interest rate outlook. Maturities will be positioned to maximize yield curve inefficiencies.
Bond market analysis will employ forecasts of the economy in general and interest rates in particular; projections of supply and demand imbalances, liquidity, intra-market spreads; and continuous monitoring of bond indenture provisions and credit histories.
Bonds will be highly rated by one of the top credit-rating agencies, and every one will be subject to an exhaustive in-house analysis. The process of evaluation will be constant.