About: To provide current income exempt from regular Federal income tax, New York State and New York City income taxes. At least 80% of its total assets will be invested in investment grade municipal bonds, or bonds that are unrated but judged to be of comparable quality. Up to 20% may be invested in municipal bonds that at the time of investment are rated Ba/BB or B or bonds that are unrated but judged to be of comparable quality. The Fund intends to invest primarily in long-term bonds with average maturity of 15 years or more. Call options may be sold or purchased on municipal bonds and indices based on the prices of futures contracts and debt securities.
Tags: Asset Management Financial Services