'Tis the Season to Buy Muni Bonds Says RidgeWorth Fund Manager

The best time of the year to buy municipal bonds is right now due to all the supply hitting the market, said Ron Schwartz, portfolio manager for the RidgeWorth Investment Grade Tax-Exempt Bond Fund. Schwartz explained that there is a year-end push by municipalities to sell debt which creates buying opportunities for investors seeking steady, tax-free income streams. He added that Detroit still faces huge challenges despite its emergence from bankruptcy and noted that Illinois could see problems soon. Finally, Schwartz said he expects a solid year for munis in 2015 although not as good as 2014.