We have more than $10 billion in tax-exempt, taxable and tax credit securities assets under management. Our investment professionals have expertise across the municipal market and our portfolios provide diversification by geography, sector, repayment source and structure.


For taxable municipal securities, we focus on direct payment obligations established under the American Recovery and Reinvestment Act of 2009, including military housing projects and Build America Bonds. We also leverage our deep fixed income platform to uncover opportunities created by tax credit programs established for secondary education facilities, renewable energy projects and other infrastructure-related projects. These tax credit debt instruments are structured to provide a tax credit to the investor as opposed to a cash interest payment.

Strong Track Record*


Tax-Exempt Municipals Sector Returns

Top 1% of Competitor Universe Since Inception

Build America Bonds Sector Returns

Top 1% of Competitor Universe Since Inception

Taxable Municipals Sector Returns

Top 2% of Competitor Universe Since Inception


Related Fixed Income Strategies


Key Investment Professionals

James Pass

Portfolio Manager

Contact Us

Contact Guggenheim Investments for more information about this strategy or to learn more about our capabilities.



Important Disclosures

*As of 12.31.2015. Multi Credit ranking based on gross returns for Guggenheim’s Multi Credit Composite versus 52 competitors in the eVestment Alliance Custom Multi Credit universe. For the last 1-, 3-, 5-and 7-year periods, Multi Credit ranked in the top 9%, 6%, 4% and 7% respectively, versus 124, 105, 80 and 58 competitors, respectively. Data taken from eVestment Alliance on 11.06.2015. Guggenheim Investments composite peer rankings represent percentile rankings which are based on monthly gross of fee returns and reflect where those returns fall within the indicated eVestment Alliance (EA) universe. EA provides third party databases, including the institutional investment database from which the presented information was extracted. The EA institutional investment database consists of over 1,500 active institutional managers, investment consultants, plan sponsors, and other similar financial institutions actively reporting on over 10,000 products. Only information regarding full year performance and rankings is presented as Guggenheim Investments believes performance for a full year period is an important factor. Additional information regarding EA rankings for year to date and since inception performance of the composites is available on EA’s website. Please see the disclosure page for more information about the rankings presented above.

Past performance is not a guarantee of future results. Investing involves risk, including the possible loss of principal. There is no guarantee that any investment strategy will achieve its investment objectives or is suitable for all investors. Diversification does not ensure profit nor protect against loss. Every asset class is subject to various risks that affect their performance in different market cycles. Fixed income investments are subject to certain risks including market, interest-rate, issuer, credit, and inflation risk. Equity investments are subject to market risk or the risk of loss due to adverse company and industry news, or general economic decline. Alternative investments are subject to market risk, currency risk, foreign investment risks, liquidity risks, higher fees and expenses, regulatory restrictions, and volatility due to speculative trading and use of leverage.

© Guggenheim Investments. All rights reserved. Not FDIC Insured | No Bank Guarantee | May Lose Value

Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Real Estate, LLC, Transparent Value Advisors, LLC, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited and Guggenheim Partners India Management.