Fund Description

The fund was incepted in January 1995 and is managed by First Investors Management Company, Inc. The fund seeks a high level of interest income that is exempt from both federal and state income tax for individual residents of Virginia. Under normal circumstances, the fund invests at least 80% of its net assets in municipal bonds and other municipal securities that pay interest that is exempt from both federal income tax, including the AMT, and any applicable state income tax for individual residents of Virginia. The fund declares dividends daily and pays them monthly. Capital gains, if any, are distributed annually.