Fund Description

The fund was incepted in March 1988 and is managed by Banc One Investment Advisor. The fund seeks as high a level of current income exempt from federal income tax as is consistent with relative stability of principal. The fund invests primarily in a portfolio of municipal bonds. The fund team selects securities for the fund by analyzing both individual securities and different market sectors. Taking a long-term approach, the fund team looks for individual securities that it believes will perform well over market cycles. The fund spreads its holdings across various security types within the municipal securities market. The fund team selects individual securities after performing a risk/reward evaluation of interest rate risk, credit risk, and the complex legal and technical structure of the transaction. The fund offers dividends monthly and capital gains annually.