We’re investment advisers. We manage closed-end funds, a mutual fund and actively-managed ETFs comprised of preferred, contingent capital and other income securities. We also offer customized investment advisory services to institutional investors — including taxable investors seeking benefits from the dividends received deduction.
Founded in 1983, Flaherty & Crumrine’s historic knowledge and dedicated credit research capabilities allow us to provide clients with the individualized attention needed to withstand changing markets. With an eye towards the long-term, we’re committed to helping our clients navigate the intricate preferred, contingent capital and income securities markets.
Generally speaking, investors look to the preferred securities market for the stable income stream available through dividends or interest income. Preferred, contingent capital and income securities typically pay higher yields than common stock equity or senior debt in the same company.
As a matter of philosophy, Flaherty & Crumrine operates with a very compact team of highly qualified professionals. This approach allows us to focus on our specialized investment niche and to avoid having the attention of our key people diverted.
We feel that the best way to achieve consistently superior investment results is to take advantage of pockets of inefficiency within markets. To do this, we utilize a combination of intensive credit research and quantitative analysis, along with some very pragmatic trading strategies. However, we don’t believe in strategies which require heroic bets on individual credits or on the direction of interest rates.
For institutional clients, we offer customized preferred securities portfolio strategies to best meet each client’s particular investment objectives, risk tolerances, tax position and time horizon.