LOS ANGELES, CA--(Marketwire - January 27, 2011) -  First Western Capital Management, a leading provider of diversified fixed income and total return strategies to North American foundations, endowments, and pension plans, has released a time-sensitive report on the condition of the municipal bond market. 

The report -- The State of our States and Municipalities -- addresses the perceived risks and uncertainty surrounding the current tax-free bond market in a question-and-answer format. 

"Municipal bonds have captured more than their fair share of headlines of late," says Barry Julien, Managing Director of Fixed Income for First Western Capital Management, "and a few prime time news stories have elevated investor concerns. But while there will likely be a few local government defaults, we don't believe the quantity and magnitude will be anywhere near the headline levels."

Mr. Julien, who along with his fixed income team were recognized last year by PSN as a "Top Guns Manager of the Decade" in the Core Fixed Income category, goes on to say that separating the facts from the sensational headlines is half the battle right now. "Many investors have let fear overtake rational thought and will therefore miss good relative value opportunities within the tax-exempt space."

The timely report is available on First Western Capital Management's website, www.fwcapmgmt.com.

The State of our States and Municipalities is the latest addition to a body of thought pieces produced by First Western Capital Management's investment team. The collection of reports is part of the Los Angeles-based firm's overall approach to investment management based on a strong fundamental research philosophy.

About First Western Capital Management
First Western Capital Management (FWCM) is the institutional investment management subsidiary of First Western Financial, Inc., a financial services holding company recently ranked by Inc. magazine as one of the fastest growing companies in the U.S. Los Angeles-based FWCM, with well-regarded expertise in fixed income, total return, and opportunistic strategies, focuses on delivering superior investment results for institutional, sub-advisory, and high net worth clients. The FWCM investment team manages more than $1.2 billion for clients, and together with affiliated First Western entities, is responsible for over $4.1 billion in assets. For more information, please visit fwcapmgmt.com or call 310.229.2940.

Contact Information:

For more information, please contact:

Barry Julien
First Western Capital Management
(310) 229-2940