About: To provide current income that is exempt from regular Federal income tax and Florida intangible personal property tax and to return USD15 per common share to common shareholders on or about December 31, 2020. It will invest 80% of its managed assets in municipal bonds that are rated investment grade quality (Baa or BBB or better by Moodys, S&P and Fitch). 20% of the managed assets may be invested in municipal bonds that are rated Ba/BB or below or unrated but judged to be of comparable quality by the investment advisors. It may enter into Futures contracts, interest rate swap, caps, floors and Option contracts for hedging purposes.
Tags: Asset Management Financial Services