ClearBridge Investments Portfolio Manager Peter Vanderlee, CFA, appeared as a panelist at the Closed-End Fund Association Advisor Summit in New York on Sept. 14.
In the panel, titled "Generating and Managing an Income Stream for Your Clients," Vanderlee said that there are multiple ways to position a portfolio for income but emphasized that a “blended” approach that invests in a wide variety of income-generating products - such as energy MLPs, REITs and high-quality dividend-paying stocks - offers “good diversification because the correlation between asset classes [in the portfolio] is low.” Vanderlee also noted that this kind of strategy allows portfolio managers the flexibility to adjust allocations based on market conditions.
Ultimately, Vanderlee said his goal as an income-oriented portfolio manager is total return over the long term. “We’re really interested in income growth and capital appreciation over time,” Vanderlee said.
You can find out more about ClearBridge’s income strategies on our Income Solutions page.