About: To provide current income exempt from regular Federal and California income taxes. The investments are primarily made in municipal bonds that, in the opinion of the portfolio managers, are underrated or undervalued. At least 80% of its total assets will be invested in investment grade municipal bonds, or bonds that are unrated but judged to be of comparable quality. Up to 20% may be invested in municipal bonds that at the time of investment are rated Ba/BB or B or bonds that are unrated but judged to be of comparable quality. The Fund intends to invest primarily in long-term bonds with average maturity of 15 years or more.
Tags: Asset Management Financial Services