SMC Fixed Income Management (SMC FIM) is a municipal bond advisor and manager that provides customized municipal portfolios for individuals, trusts and estates through its Separately Managed Account Program, and provides advisory services to Unit Investment Trusts. SMC FIM offers a diverse line of municipal separate account strategies that cover a broad range of risk profiles.


Located in West Windsor, New Jersey, SMC FIM was formed in 2006 and is a division of Spring Mountain Capital, LP. Spring Mountain Capital is a private investment management firm that offers a wide range of traditional and alternative investment strategies, including municipal investments. Spring Mountain Capital was founded in 2001 by John L. (Launny) Steffens, former Vice Chairman of Merrill Lynch and Co., Inc. and former Chairman of the U.S. Private Client Group at Merrill Lynch.

Our Philosophy

Our business model is based on the belief that a “one size fits all” approach is not optimal for fixed income investments. SMC FIM constructs individually tailored portfolios with the goal of satisfying varying client goals and income needs. An experienced team of investment professionals provides institutional quality portfolio management for municipal separately managed accounts by employing disciplined credit research and active management for each portfolio. SMC FIM believes this thorough process results in enhanced investment performance and quality client service.