Fund Description

The fund invests at least 80% of its total assets in investment grade municipal securities whose interest is free from federal income taxes, including the federal alternative minimum tax. While it seeks to invest all assets in tax-free securities, up to 20% may be in securities whose interest may be subject to the federal alternative minimum tax or is taxable. It buys municipal securities rated in the top four categories at purchase (or unrated/short-term rated securities of comparable quality), may invest in U.S. territory issues, and is not state-focused. It may hold significant positions in similar project types and typically invests with a long-term income horizon, selling as needed based on factors such as credit, pricing, structure, duration, and tax-loss harvesting.