Ramirez General Tax-Advantage

Description: The Bloomberg Barclays Municipal Bond Index is a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market.

Benchmark: Barclays Tax-Free Municipal Bond Index

Inception Date: May 1st, 2012

FIXED INCOME CHARACTERISTICS RAMIREZ TAX-ADVANTAGED STRATEGY BARCLAYS MUNICIPALS INDEX DIFFERENCE
Avg. Maturity (Yrs) 14.65 13.0 1.65
Yield-to-Worst (%) 2.59 2.23 0.36
Avg. Coupon (%) 4.69 4.73 -0.04
Avg. Quality A2 AA2 -
Convexity -0.94 -0.85 -0.09
Effective Duration (Yrs) 5.90 6.33 -0.43
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To all clients:

As developments regarding the Coronavirus (COVID-19) continue to unfold around the world, we would like to reassure you that all Samuel A. Ramirez & Company, Inc. (Ramirez & Company) offices remain open, we have all employees able to work remote, if needed, and that we continue operating business as usual, providing all products, services and capabilities for our clients across the globe.

We are closely monitoring developments regarding the spread of the virus and assessing potential impacts it could have on our operations. Ramirez & Company has a robust business continuity and resilience program, which includes standards, controls, and exercising for infectious disease and pandemic planning, and we are fully prepared to continue operating under a variety of different scenarios.

We will continue to provide updates to you, as needed, in the coming days and weeks. If you have any questions, please contact your Sales or Relationship Manager.

Ramirez & Company, Inc. Management