GW&K’s Approach

GW&K is a recognized market leader and pioneer in municipal bond investing having managed portfolios for clients since our founding in 1974. Our investment approach is active, flexible, and rooted in disciplined research to preserve and enhance principal and income.

Hear more from our portfolio managers in this video.

Explore Strategies

Separate Accounts Mutual Fund

Short-Term Municipal Bond

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2-8 Year Active Municipal Bond

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2-8 Year Active Municipal Bond ESG

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Municipal Bond

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Municipal Bond ESG

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Municipal Bond Plus

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Municipal Enhanced Yield

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Guiding Principles

Active Flexible Approach

Our active strategies have the flexibility to capitalize on opportunities across the yield curve and shift positioning to take advantage of inefficiencies in the municipal bond market. This flexibility is essential to protect and grow both principal and income.

Disciplined & Rigorous Research

We seek the best relative value by conducting bottom-up research examining both bond structure and the underlying credit. Our proprietary process focuses on a select universe of credits and evaluating several factors, including the issuer’s liquidity, financial flexibility, and trends at the state and sector levels.

Diversified Portfolios

We believe that constructing portfolios diversified by issuer, sector, geography, and bond characteristics and focusing on large, liquid, investment grade issuers that are active primary market participants can meaningfully mitigate risk.

Active bond management is a constant process that demands imagination, discipline and judgment. Knowing that what worked yesterday may not work tomorrow injects a level of dynamism that is both humbling and exhilarating.
John Fox Co-director of Fixed Income
The muni market is one of the most inefficient marketplaces. It's large, it's fragmented and it's poorly understood. It really begs for active management. And unlike most investors, we actively look for opportunities and use our technical knowledge and extensive experience to take advantage of the market.
Marty Tourigny Municipal Bond Portfolio Manager
We manage our client portfolios for total return, with a goal of protecting not only principal, but income as well. We do this through the active management of the portfolios — through yield-curve management, duration management, credit research, and our trading capabilities.
Kara South Municipal Bond Portfolio Manager
Our process for choosing credits is very rigorous. It's bottom up and research intensive. We take the entire universe of about 50,000 different issuing authorities and we narrow that down to less than 500. So we focus on quality and are very selective.
Marty Tourigny Municipal Bond Portfolio Manager

Perspectives

Municipal Bond

Municipal Bond Market Commentary – 1Q 2026

GW&K’s 1Q2026 Municipal Bond Commentary: what drove muni returns, where value re-emerged, and how we’re positioning amid rate and geopolitical risks.

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Municipal Bond

Municipal Bond Snapshot March 2026

The muni market has reset to healthier levels, with yields at six-month highs, improved relative value ratios, and a more normalized curve.

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Municipal Bond

Municipal Bond Snapshot February 2026

Munis extended their rally in February, supported by robust demand. With the back half of the curve exceptionally steep and yields historically attractive, we’re watching how seasonal March headwinds may influence positioning and flows.

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Municipal Bond

Municipal Bond Snapshot January 2026

Entering February, the outlook for municipal bonds remains favorable: Supply and demand are broadly in balance, credit quality is strong, and tax-equivalent yields are attractive.

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Municipal Bond

State of the States 2026: Strong Fiscal Footing Amid Tighter Conditions

With record Rainy Day Funds and cautious budgeting, US states head into 2026 well equipped to manage slowing growth, cost pressures, and policy shifts.

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Municipal Bond

Municipal Bond Market Commentary – 4Q 2025

Municipal bonds closed 2025 strong, driven by curve shifts, steady demand, and active opportunities as the market enters 2026 with resilient fundamentals.

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