Truly Active Municipal Bond Management

Boutique municipal bond asset management firm focused on long term, yield-driven total return.

High Income Municipal Bond Fund

Our high income federally tax exempt fund is designed to provide high levels of tax exempt income to investors which will, over the long term, drive total returns.


Short Term Municipal Bond Fund

Our short term municipal fund is designed to offer a tranquil ride for investors at the shorter end of the maturity curve, but with a yield that is optimized to help the fund remain competitive within its peer group, without sacrificing share price stability.


Municipal Bond Strategy Team

The team, which manages the Principal Street High Income Municipal Fund and SMA strategy, and the Principal Street Short Term Municipal Fund, brings a wealth of experience in the municipal bond market to bear on the manifestation of one simple investment thesis which is that, in fixed income investing, the predominant driver of long term total return is yield.

The team believes this investment thesis can be applied to portfolios of differing risk/reward dynamics from aggressive to more conservative. In either case the manager has the same portfolio construction tools available for use. The manager just increases or decreases the use of those tools to match the given portfolios stated risk/reward profile.

Our investment process is inherently bottom-up, credit-specific, and credit research-dependent. It requires a constant relative value appraisal of the market. It is truly active in nature. We think about, and then enact, ways to continuously earn our management fee. Investors hire us to be stewards of their money through the vast and often opaque municipal bond market, while providing a specific benefit tax exempt yield.


Why High Yield Municipals?

The global search for income continues as the Federal Reserve and global central banks work to keep rates low and contain inflation expectations…

read more

Mutual Fund investing involves risk. Principal loss is possible.

Please read and consider the prospectus carefully before investing. To obtain a hardcopy of the prospectus, please call 1.877.914.7343.

Diversification does not assure a profit or protect against a loss in a declining market.

Principal Street Partners is the Investment Advisor to the Principal Street High Income Municipal Bond Mutual Fund, which is distributed by Quasar Distributors, LLC.