The Critical Role of Research
Appleton's proprietary research team plays a critical role in evaluating credit risk by combining quantitative and qualitative measurements to assess the creditworthiness of an obligor. An internal analysis of obligor financials is enhanced by access to rating agency and independent 3rd party research. Bottom-up research at the security level supports a portfolio's overall strategy and objectives, both in its construction and its monitoring. A top-down team approach to monitoring overall market strategy in conjunction with a bottom-up securities selection process enables us to identify undervalued market opportunities and make portfolio adjustments.
Tax management is an important component of a well-rounded investment strategy. We have the ability to customize and manage for tax efficiency at the individual portfolio level, and use a variety of strategies and tools to help control tax implications and enhance after-tax returns. Appleton’s Hybrid strategy offers our clients the benefit of combining taxable and tax-exempt securities in one portfolio based on relative value data measures and our client's unique tax circumstances.
Investment Management Styles
The municipal market, with 1.4 million issues, offers managers myriad ways to customize portfolios to preserve capital, grow principal and provide competitive tax-free returns. We invest primarily in defensive, intermediate bonds, emphasizing very high quality and reduced interest rate risk.
With the goal of preservation of capital and long-term growth of principal and income, we invest primarily in bonds with intermediate maturities to maintain consistent returns and a conservative risk profile.
This short-term investment strategy is designed to simultaneously provide principal preservation, liquidity and tax-efficient total return for cash reserves for individuals, corporations, public funds, endowments and pension plans.
In addition to considering factors influencing the global and domestic markets, we focus on stocks with accelerating profits, unit growth, relative pricing power, high or improving margins, and companies with strong positions. We select investments with the most opportunity based on a client's objectives and risk tolerance.
This strategy seeks to offer a balanced single investment solution to conservatively generate income with added potential for capital appreciation. Our balanced account structure generally allows for tax efficiency and customization, utilizing a blend of liquid investment grade taxable or municipal bonds, with high dividend yielding stocks and ETFs.
This strategy seeks to employ a bottom-up, fundamental investment philosophy with a goal of identifying equity securities trading at prices well below their intrinsic value. We believe our key advantages include portfolio concentrated in our highest conviction names, flexible investment mandate, long-term orientation and an ability to hold cash until the market presents opportunities.
Our balanced portfolios combine equity and fixed income to deliver long-term growth and income while minimizing risk and tax liabilities. Guided by a client's asset allocation, portfolios feature a blend of stocks and bonds.