Investors should not expect munis to repeat last year’s stellar performance, but they can expect to collect a decent coupon in 2015, said Steve Shachat, portfolio manager for the Alpine High Yield Managed Duration Municipal Fund. Shachat’s fund invests at least 50% of its assets in municipal bonds rated BBB/Baa or lower and seeks to maintain an effective portfolio duration of between 2 and 7 years. Shachat said he views healthcare facilities, such as nursing homes and retirement facilities, as attractive investments. He said airlines, such as United, American, Delta and Southwest are also particularly appealing right now because they thrive on low oil prices.
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