STW offers fully active, strictly value-oriented bond management. We provide custom solutions to difficult investment problems. The firm deliberately limits the amount of assets under management and number of clients. This makes a big difference.

• It does no good to have a great idea and not get it into the clients’ portfolios. We can execute. Organizationally, we have short lines of communication, so good ideas come to fruition before the opportunity has passed.
• STW is a pure value manager. We select bonds based on our opinion of their investment merit without reference to qualitative benchmark content. STW’s results have traditionally provided good diversification to more conformist managers.
• The fact that we have no outside owner means that we can invest in the firm when it’s best for our clients without having the pressure to send a regular check home to an absentee owner.