About: To achieve a high level of current income that is exempt from federal income tax, consistent with the preservation of capital. It will invest at least 80% of its assets in a portfolio of long-term, tax-exempt municipal bonds that are rated investment grade (Baa or BBB or higher). The Fund may invest up to 20% of its total assets in municipal obligations that are rated below investment grade. The Fund may also use a variety of derivative instruments for investment purposes as well as hedging or risk-management purposes.
Tags: Asset Management Financial Services