Asset Dedication

Asset Dedication purchases individual bonds — Treasuries, agencies, municipals, and investment-grade corporates — and holds them to maturity. Each portfolio ladder is calibrated to the client's specific spending schedule, creating a self-liquidating stream that funds liabilities as they come due. This contrasts with a total-return bond fund, where constant reinvestment and daily pricing introduce cash-flow uncertainty.

The firm operates as a wealth manager, not as a broker-dealer or a fund sponsor. Clients receive individually managed accounts rather than shares in a commingled vehicle. This architecture means the portfolio's composition and maturity schedule are dictated by the client's own liability profile, not by a common fund mandate.

While the mechanics resemble a bond ladder, the defining feature is the explicit dollar-for-dollar matching of future maturities against projected spending needs. Instead of rolling maturities into the prevailing market, each bond's principal return is intended to fund a specific, dated obligation. The portfolio is designed to self-terminate as obligations are met, reducing reinvestment risk and market-timing pressure.

Portfolios draw from U.S. Treasury securities, agency debt, municipal bonds, and investment-grade corporate bonds. The firm avoids high-yield and unrated credits, consistent with a liability-matching mandate that demands high certainty of principal return at maturity. Allocation among these sectors is driven by the tax status and duration requirements of the client.

Asset Dedication's published focus is fixed income, and there is no indication it offers equity, private-market, or alternative investment management. The firm's value proposition rests on eliminating equity-market and credit-migration risk from the portion of a client's balance sheet that must fund near- and intermediate-term liabilities.