About: To provide high current income, generally exempt from federal income taxes, by investing primarily in medium and lower quality bonds and notes issued by or on behalf of state and local government units. The Trusts secondary goal is to seek total return. Effective from the 21-Dec-07 the following changes will apply: The Fund will seek high current income exempt from federal income taxes but may consider capital appreciation. Percentage limitations in certain types of investments have been eliminated to allow the manager greater flexibility to invest in appropiate securities. The Fund may invest up to 100% of its assets in lower quality debt instruments. Certain limitations on the Funds ability to invest in derivatives have been removed.
Tags: Asset Management Financial Services