About: To provide as high a level of current income exempt from federal taxes as is consistent with its investment policies and prudent investment management by investing primarily in a portfolio of long-term municipal obligations the interest on which is exempt from federal income taxes and which enables shares of the Fund to be exempt from Florida intangible personal property taxes. Under normal circumstances, at least 80% of the funds assets will be invested in municipal obligations issued by or on behalf of the State of Florida. The Funds current non-fundamental investment policy requires, under normal market conditions, for the Fund to invest at least 80% of its total assets in Florida municipal bonds. Due to the repeal of the Florida Intangible Personal Property Tax as of January 2007, the Board has approved an amended policy allowing the Fund flexibility to invest in municipal obligations regardless of geographic location.
Tags: Asset Management Financial Services