Private Asset Management

Silvercrest Eyes Muni Bond Strats, Commodities 05/27/2009

New York-based Silvercrest Asset Management is recommending adding high-yield municipal bond strategies and commodities to traditional long portfolios to take advantage of market opportunities. Richard Hough, managing director, told PAM in an exclusive interview that now is a good time to take advantage of large spreads between high yield municipals and other bonds. As for commodities, Hough said they have a strategic place in a HNW portfolio to hedge against inflation.

Hough warned that commodities should be approached cautiously, as the market is still volatile. He encourages clients to consider them alongside stocks, bonds and diversified alternatives. The S&P Goldman Sachs Commodity Index was up 3% the week of May 18. Gold in particular gained ...

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