About: It seeks current income exempt from regular Federal income tax. The secondary objective is the enhancement of portfolio value relative to the municipal bond market. It invests at least 80% of its assets in investment grade quality municipal bonds. It may invest up to 20% of its assets in municipal bonds that are rated Ba/BB, B or unrated, but judged to be of comparable quality. It may use financial futures and options in an attempt to hedge against the market risk.
Tags: Asset Management Financial Services