Municipal Bond


16Rock oversees the investment management decisions of a variety of separately managed account products and investment vehicles designed for clients and for the founding partners and their families and employees using proprietary trading strategies. All of the strategies managed by the firm are dedicated to the municipal bond market. The firm claims compliance with Global Investment Performance Standards (GIPS) and has been independently verified for the periods June 2009 to December 2020.

We are a boutique firm based in New York. The managing and founding partners own 100% of the firm. We invest a sizable portion of our net worth in our proprietary municipal strategies. We believe our edge comes from long established relationships with a large broker-dealer network which provides us access to high quality information and product. During 2020, the principals of the firm and its affiliates traded in excess of $8.0 billion of municipal securities with approximately 70 counterparties.

Our investment philosophy is based on being proactive and tactical as we believe the municipal market is inefficient and information flows are asymmetric. Generally speaking, we focus on owning liquid bonds in liquid sectors. Some of our client strategies are long only and others utilize margin leverage on an episodic or opportunistic basis. We can customize portfolios to be state specific, taxable or green/socially responsible. Our proprietary strategies use margin leverage, hedging and are actively traded.

The portfolio managers have significant experience in the municipal market encompassing cash, synthetic and derivative trading, sales and underwriting, hedging, portfolio management, research and strategy, and arbitrage.