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The approach to fixed income portfolio management begins with our outlook for inflation and interest rates. We believe that bonds should provide safety and stability in addition to an income return greater than inflation. A fixed income portfolio at Broyhill will own individual bonds selected to match each clients' unique circumstances. We will use a combination of tax-free, taxable (U.S. Government and Agency) and selected issues denominated in non-U.S. currencies. Our focus on purchasing and holding individual issues is based upon our belief that we can minimize risk by making certain that a maturity date is our backstop as economic fundamentals change.


