WELCOME TO HEXAGHEXAGONN ASSET MANAGEMENT

OUR GOAL

To achieve superior performance results through the active management of fixed income assets (primarily municipals, corporates and U.S. treasury bonds) that adhere to portfolio guidelines and risk parameters.

INVESTMENT DECISIONS

All decisions will be based on our interpretation of market fundamentals and trends, and are tailored to the specific needs of each portfolio.

Our Investment Approach

where we find value

The municipal market is a large, complex market that has approximately 50,000 different issuers and approximately one million unique securities. We believe that an active trading approach requires knowledge of the varying characteristics of each investment to navigate the highly fragmented market. Hexagon Asset Management finds value through our deep understanding of multi-dimensional trading relationships in the market. Our approach endeavors to look at various aspects including:

  • STATES
    State-by-state trading relationships, and state-specific supply and demand projections.
  • SECTORS
    Industry (i.e., healthcare, airports, essential service) and the specific types of issues (i.e., general obligation, revenue).
  • COUPONS
    Ability to track and identify market opportunities to invest in lower coupon bonds (including zero coupon bonds) by analyzing trading relationships, and retail demand.
  • CALL FEATURES
    Knowledge of varying market valuations for securities with different call features and years to maturity (including non callable bonds).
  • PUT FEATURES
    Insight of trading relationships of bonds with put features, and various sectors and maturities.
  • TAX STATUS
    Yield and spread relationships of securities tax status (including tax exempt and taxable bonds) subject to the Alternative Minimum Tax (AMT), and de minimis.
  • DOLLAR PRICE
    Effects of dollar price on investor demand, particularly retail appetite at various dollar price and coupon relationships.
  • SUPPLY DYNAMICS
    Identifying opportunity when market becomes saturated with particular credits and structures.
CREDIT FOCUS & RESEARCH

CREDIT FOCUS & RESEARCH
Focus on single-A or better rated securities, using research and credit analysis in our investment selection. Analytics may be utilized to identify credit spread differences.

RISK MANAGEMENT
Use hedging techniques (i.e., rate locks, swaps and futures) to manage interest rate and curve risk. These strategies may be used opportunistically in the portfolio when comparing long positions versus U.S. Treasuries, corporate securities and synthetics.

DISCIPLINE & ESG COMMITMENT
Utilize a disciplined approach to market entry points. Strategically look to exit trades based on our understanding of how the behavior of municipal buyers changes, and could provide incremental return to the portfolio. Committed to investing responsibly, and incorporate Environmental, Social and Government principles in our investment process (i.e., green bonds and renewable energy bonds).

RELATIONSHIPS
Able to source investments through our established relationships with national and regional dealers that market municipal and corporate securities. Leverage technology to access various distribution platforms.

CREDIT FOCUS & RESEARCH

ABOUT US

Hexagon Asset Management is a New York based investment management firm. Darren De Risi and Scott Harris, our Co-Founders / Portfolio Managers, have over thirty years of combined investment and trading experience in tax-exempt and taxable securities.

We have long-standing relationships throughout the municipal bond industry, and are experienced in multiple facets of the municipal business -- origination, trading, underwriting, sales, derivatives, and tender option bond program structuring. We have extensive knowledge of tax-exempt and taxable bond buying strategies, and can identify factors that impact supply (i.e., new issues and dealer inventories) that can provide the primary market investment and trading opportunities.

Darren and Scott have a keen sense of value across the entire yield curve, and can invest as opportunity presents, but will primarily aim to maximize duration and absolute total return.

CONTACT

Darren De Risi
Co-Founder & Sr Portfolio Manager

  [email protected]
  212 448 7441
   516 815 4957

Scott Harris
Co-Founder & Sr Portfolio Manager

  [email protected]
  212 448 7440
   914 419 2497


OFFICE ADDRESS
5 Hanover Square
Suite 2101
New York, NY 10004