SMH Capital Advisors, Inc. specializes in fixed-income portfolio management services for individuals, corporations and fiduciaries, including money managers and platform programs through broker/dealers or RIAs, pensions, endowments and trusts.

• AAA SECURITIES – The investment philosophy at SMH-FA revolves around a contrarian strategy of exploiting the tremendous discounts and market opportunities available in the bond market to outperform simple buy and hold strategies. The firm's largest concentration of AAA securities is in the mortgage-backed market -- GNMA, FNMA, FHLMC, CMO.
• HIGH-YIELD SECURITIES – Based on SMH-FA's contrarian investment philosophy, high-yield securities are favored under several major themes.
• Buy bonds at discounts and avoid holding these bonds significantly above par, particularly convertibles.
• Be on the other side of arbitrageurs by buying bonds that are selling below true market value as arbitrageurs unwind their positions.
• Assume default on every bond. Perform a strict balance sheet analysis for adequate cost coverage.
• Buy on special situations, bad news or turnaround companies.