About: The Funds primary investment objective is to provide current income exempt from regular federal, New York State and New York City income taxes. The Funds secondary investment objective is to enhance portfolio value and total return. Under normal circumstances and as a fundamental policy, the Fund will invest at least 80% of its net assets in municipal securities, the income from which is exempt from regular federal, New York State and New York City income taxes. The Fund also may invest up to 20% of its net assets in Out of State Municipal Securities (municipal securities that are exempt from regular federal income tax, but not from New York State and New York City income taxes) if, in NAMs judgment, such purchases are expected to enhance the Funds after-tax total return potential.
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