Tactical Income Strategy


Portfolio Highlights

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Balanced tactical management that seeks competitive total returns from a portfolio of income-generating securities with significantly reduced risk.


A macro-economic framework developed and monitored by the Investment Team that informs asset allocation and sector weightings.


Individual issue selection grounded in deep fundamental analysis, valuation, correlation, and other factors.

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A 20-Year audited track record across a variety of market cycles.

Where it Fits in Your Portfolio

As a companion to a core fixed income allocation with diverse opportunistic yield plays; as part of a core equity allocation with reduced risk; or as a core allocation for income generation with reduced risk.

Portfolio Managers: Bill Garvey, Alex Oxenham

Investment Vehicles: SMA, mutual fund with Direxion, and selected investment platforms.

“A lot of the success of Tactical Income has been where we haven’t been, in addition to where we have been.”

Craig O’Neil
Chief Executive Officer
Craig O'Neill

Tactical Income

A Low Volatility Core Solution

Equity Portfolio Complement

Seeks volatility reduction after periods of solid equity returns while still seeking out capital appreciation.

Bond Portfolio Enhancement

Diversify sources of income generation for a portfolio in an environment with low global bond yields.

Balanced Portfolio Complement

Utilizing a tactical approach may suppress risk in a marketplace experiencing growth of price insensitive buyers and sellers.

Income Oriented Standalone Solution

  • Seeks risk minimization.
  • Yield.
  • Seeks an attractive risk/reward.
  • Equity Portfolio Complement

    Bond Portfolio Complement

    Balanced Portfolio Enhancement

    Income Oriented Standalone Solution



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    In their own words: Tactical Income Strategy


    The Tactical Income strategy is an actively managed multi-asset portfolio of income-producing securities that seeks to preserve capital, minimize volatility, and provide competitive total returns across market cycles. 

    A six to 18-month outlook on macroeconomic factors, such as fiscal and monetary policy, interest rates, commodity pricing, and general business conditions, shapes broad allocations to fixed income, equity, and cash.

    Sector weightings further reflect the Investment Team’s views on economic cycles, with an eye toward managing across earnings growth, quality, and more defensive consumer staples categories.

    In addition to traditional fixed income securities, other income-producing securities in the portfolio can include dividend-paying common shares, preferred shares, and REITs, among others.

    Individual securities are selected via a disciplined process based on deep fundamental analysis with a preference for companies with steady dividend growth, solid balance sheets, and industry leadership.

    “It’s important to understand that this is more than “picking stocks” to complement a fixed income portfolio.”

    William Garvey
    Founder & Co-Chief Investment Officer
    William Garvey

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