Investing in
Individual Bonds

          At Clapboard Hill Private Wealth, we believe in designing a customized and thoughtful asset allocation to all client portfolios that properly reflect financial goals, tolerance for long income/spending term risk, and constraints. We would like to give you a brief update on how we view the fixed income or bond portion of the allocation. People looking to invest in bonds may own individual bonds, bond ETFs, or bond mutual funds. At CHPW, our belief has always been placed on the importance of owning individual bonds, especially in this current market environment. Holding individual bonds generally provides permanence and definition customize diversified portfolios of , a maturity, and a fixed interest component (coupon). We bonds to meet your individual needs. Bond prices will fluctuate, but it is essential to remember that the interest payment will remain constant as long as the company has the cash to make the payments. Bond funds and bond ETFs do not mature or have a fixe d interest payment. Owning individual bonds also provides a deeper level of transparency compared to bond ETFs or funds. Yes, we have seen bond prices fall in this period of market uncertainty; however, a lot of the selloff in bonds can be attributed to in vestors selling out of bond mutual funds and ETFs. Holding a bond fund or bond ETF during times of massselling creates permanent erosion to your capital. Fund managers must sell underlying bonds to meet fund redemptions (sales) which causes all holders to share in the losses taken to raise cash for those selling. It is difficult to predict when prices will rise again but by owning individual bonds, we believe investors are better positioned to weather this storm. Please feel free to reach out to our invest ment team for more detail. This is for informational and educational purposes only and should not be construed as investment advice or an offer or solic or services. Opinions are subject to change with market conditions. The views and strategies may not be suitable for all investors and are not intended to be relied on for legal or tax advice. There is a risk of loss of principal when investing in securities. credit risk, d Management, Inc. itation of any products 1 Bonds and bond funds are subject to Pos t Road 265 Westport, CT 06880 East efault risk, and interest rate risk and may decline in value as interest rates rise. Advisory services provided through (NAM), a SEC Registered Investment Advisor; National Asset dba Clapboard Hill Private Wealth