Perspectives Blog

Chad Farrington, CFA, Head of Municipal Bond Research

Chad Farrington is director of municipal credit and a senior municipal fixed income portfolio manager for Columbia Management Investment Advisers, LLC (CMIA). He also serves as a senior credit analyst, focusing on continuing care retirement communities, senior living, multi-family and other traditional high yield products. Mr. Farrington joined the firm in 2003 and has been a member of the investment community since 1998.

Prior to joining the firm, Mr. Farrington spent five years at Fitch Ratings as a director in the firm’s health care and tax-backed groups. While at Fitch Ratings, he produced numerous rating reports and several special research pieces on the health care sector. Mr. Farrington also delivered several speeches on the long-term care sector.

Mr. Farrington earned a B.S. in business finance and a minor in economics from Montana State University. He is a member of the Boston Security Analysts Society, Boston Municipal Analyst Forum and the National Federation of Municipal Analysts. In addition, he holds the Chartered Financial Analyst designation.

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Municipals flashing “buy” signal

Chad Farrington, CFA, Head of Municipal Bond Research | July 8, 2013

The recent swift correction in tax-exempt interest rates has created opportunities for municipal bond investors to attain very attractive risk-adjusted returns. An investor in the highest tax bracket could achieve around a 7.0% taxable equivalent yield in today’s market environment. With credit quality largely remaining stable for many municipal issuers and rates significantly higher than