Fund Description

The fund uses preset target ranges to invest a majority of assets in tax-exempt bonds and money market instruments (50%-70%) and the remainder in blue chip stocks (30%-50%), and is managed with the goal of minimizing the impact of federal income tax to shareholders. It defines blue chip stocks as common stock with a market capitalization of at least $500 million and included in the companies that make up the S&P 500 Index or the Dow Jones Industrial Average, or with a market capitalization of at least $1 billion.