About: Under normal market conditions, the Fund will invest substantially all (at least 90%) of its total assets in municipal bonds which pay interest that is exempt from federal, New York State and New York City income tax. The Fund will at times seek to avoid bonds generating interest potentially subjecting individuals to the alternative minimum tax. At least 80% of its net assets are invested in investment grade quality municipal bonds. Up to 20% of its net assets may be invested in municipal bonds that are rated Ba/BB or B or that are unrated but judged to be of comparable quality by the portfolio manager.
Tags: Asset Management Financial Services