Fund Description

The fund primarily invests at least 80% of its assets in municipal securities, which typically offer interest exempt from federal income tax. These securities are generally investment-grade, aimed at financing a range of public and private purposes, including state and local governments and eligible non-profit organizations. The fund's portfolio may consist of various municipal debt types, such as general obligation bonds, revenue-specific bonds, and synthetic securities. It emphasizes a dollar-weighted average maturity of three to ten years and may allocate over 25% of assets to similar project financings. Additionally, it incorporates credit quality analysis, issuer evaluation, and investment opportunities within its strategy.