Duff & Phelps is people, pride, passion, performance. The firm is an investment research firm that manages investment portfolios for closed-end funds and institutional separate accounts. Its product offerings include REITS, large cap equities, investment grade fixed income and tax exempt municipal bonds. The company s also provides comparative after-tax returns for taxable accounts. The firm s clients include tax-exempt pension funds, endowments and foundations, taxable institutional accounts, closed-end funds listed on NYSE and mutual funds through Phoenix Equity Planning. Duff & Phelps has been a wholly owned subsidiary of Phoenix Investment Partners, a subsidiary of Phoenix Companies, since 1995. Founded in 1932, Duff & Phelps has headquarters in Chicago.