July 2017 Luncheon Meeting

Municipal Bond Investing in California: Risks and Rewards

Speaker: Christopher Sperry, CFA, Vice President and Portfolio Manager, Franklin Templeton Fixed Income Group

Meeting Description

Christopher Sperry will share his insights on the California municipal bond market. He will review the various municipal bond market segments as well as strategies for thinking about your clients’ exposure to municipals in general (CA and otherwise) in general. What are the risks and rewards of investing in CA municipals? Christopher will also share his intimate knowledge about the risks of municipality pension overhang and the risks of municipality bankruptcy, as illustrated by Stockton, CA.

Learning Objective: Learn about implementing effective CA municipal bond investments in your clients’ portfolios. Understand the risks of these investments in the context of CA municipality pension overhang.

Level of Complexity: Intermediate

1.5 hours CE available, pending approval by the CFP Board.

Featured Partner: Michael Ryan, Michael Ryan & Associates

Speaker Biography: Christopher Sperry is a vice president, portfolio manager of the Franklin California Tax-Free Income Fund, Franklin California High Yield Municipal Bond Fund, Franklin California Intermediate-Term Tax-Free Income Fund and Franklin California Insured Tax-Free Income Fund.

Mr. Sperry holds a B.A. in economics from California State University, Chico. He is a Chartered Financial Analyst (CFA) charterholder, and member of the National Federation of Municipal Analysts (NFMA), California Society of Municipal Analysts (CSMA), the Association for Investment Management and Research (AIMR), the CFA Society of San Francisco, and a member of the Municipal Bond Club of San Francisco.

Pricing and Registration

Advanced pricing is available through July 10th: FPA Members and First Time Visitors: $40 Non-Members: $60

After July 10th:
All Members and Non-members: $60

Online Registration is open through Monday, July 10th. At-the-door registration is available but limited, so pre-registration is strongly encouraged.

No refunds after 12:00 pm on Tuesday, July 11th.