Primary objective is to provide current income exempt from regular federal income tax. Secondary objective is to enhance portfolio value and total return.
Fund will invest at least 80% of its managed assets in municipal securities that, at the time of investment, are investment grade quality or judged to be of comparable quality by NAM. Up to 20% of the fund’s managed assets may be invested in municipal securities that are rated below investment grade or unrated and judged to be of comparable quality by NAM. The fund may invest in bonds subject to AMT, and the fund uses leverage to seek to enhance total returns. All of the fund’s leverage is initially expected to be through investments in inverse floating rate municipal securities, also known as tender option bonds.
Seeks to provide
- Attractive monthly tax-free income
- Portfolio diversification
- Attractive after tax total returns
Income may be subject to state and local income taxes and the alternative minimum tax. Capital gains, if any, will be subject to capital gains tax.
Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results.
Fund data is updated daily, monthly, and quarterly, depending on the specific data point.
Click
HERE
for the update schedule.
