Municipals in focus: A bond market review and outlook

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Join the Delaware Funds by Macquarie Municipal Bond team who will provide a detailed overview of the municipal market, discussing fundamental and technical drivers for municipal bond market performance in 2021, an outlook for the remainder of 2021 and what to expect as we enter 2022.

By the end of the session, participants will:

• Understand technical and fundamental factors that have driven investment performance in 2021.  
• Understand Biden’s Infrastructure bill and potential implications on the municipal market from a credit and tax standpoint
• Understand how the current rate environment has impacted the municipal markets, and the outlook going forward.
• Have an understanding of the credit landscape in the municipal bond market.
• Understand what will drive supply in the municipal market.

FOR INVESTMENT PROFESSIONAL USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC.

The data, analyses and opinions contained in the presentation are those of the speaker, is for informational purposes only, and is not meant as investment advice or a recommendation to engage in any investment strategy.

Macquarie Asset Management is not related to or affiliated with the mentioned speaker. Macquarie Asset Management does not guarantee the completeness or accuracy of the information.

Macquarie Asset Management (MAM) is the asset management division of Macquarie Group. MAM, through its affiliates, operates as a full-service asset manager offering a diverse range of products. Macquarie Investment Management (“MIM”) is the marketing name for certain companies comprising the asset management division of Macquarie Group. Investment products and advisory services are distributed and offered by and referred through affiliates which include Delaware Distributors, L.P., a registered broker/dealer and member of the Financial Industry Regulatory Authority (“FINRA”) and Macquarie Investment Management Business Trust (“MIMBT”), a Securities and Exchange Commission (“SEC”)-registered investment advisor. Investment advisory services are provided by a series of MIMBT. Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide. Delaware Funds by Macquarie refers to certain investment solutions that MIM distributes, offers, refers, or advises.

Other than Macquarie Bank Limited (“MBL”), none of the entities noted are authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.

© 2021 Macquarie Management Holdings, Inc.

11/2021 [1907808]

Speakers

Gregory A. Gizzi
Managing Director, Head of Municipal Bonds, Senior Portfolio Manager
Delaware Funds by Macquarie

Gregory A. Gizzi is head of municipal bonds for Macquarie Investment Management Fixed Income (MFI) in the Americas, a role he assumed in February 2019. In this role, he is responsible for the overall operation of the strategy and is team lead on several of the tax-exempt strategies. Additionally, Gizzi continues to be responsible for MFI’s taxable municipal business and the marketing efforts for the municipal product. Previously, Gizzi was co-portfolio manager of the firm’s municipal bond funds and several client accounts, a role he held since November 2011. Before joining Macquarie Investment Management in January 2008 as head of municipal bond trading, he spent six years as a vice president at Lehman Brothers for the firm’s tax-exempt institutional sales effort. Prior to that, he spent two years trading corporate bonds for UBS before joining Lehman Brothers in a sales capacity. Gizzi has more than 20 years of trading experience in the municipal securities industry, beginning at Kidder Peabody in 1984, where he started as a municipal bond trader and worked his way up to institutional block trading desk manager. He later worked in the same capacity at Dillon Read. Gizzi earned his bachelor’s degree in economics from Harvard University.

William Roach, CMT
Vice President, Senior Municipal Trader
Delaware Funds by Macquarie

William Roach joined the municipal trading team within Macquarie Investment Management Fixed Income (MFI) in June 2015. From November 2012 to May 2015, he was an internal consultant for the firm’s third-party distribution group, managing relationships with clients in New Jersey and Southern California. Before joining Macquarie Investment Management, Roach worked as a financial advisor, first with Creative Financial Group from October 2009 to November 2010, and then with Merrill Lynch from November 2010 to November 2012. He earned a bachelor’s degree with dual concentrations in business administration and political science from Albright College and an MBA with a concentration in finance from Villanova University.

Robert Huebscher
CEO and Founder
Advisor Perspectives

Robert Huebscher is the founder and CEO of Advisor Perspectives and serves as its editor-in-chief. He is a frequent speaker at industry conferences and has written extensively on topics including investment management, portfolio construction, financial planning and global economics.