There can be no assurance that any investment or asset class will provide positive
performance over any period of time. Investing in municipal bond products involves
risks, including, but not limited to, interest rate risk, the risk that interest
rates will rise, causing bond prices to fall; and credit risk, the risk that an
issuer of a municipal bond will be unable to make interest and principal payments
when due. High yield or lower rated municipal bonds are subject to heightened credit
risk and risk of default. As with any investment, loss of principal is a risk of
investing. Please consult a tax advisor regarding the suitability of municipal investments
in an overall portfolio. Income may be subject to state and local taxes and the
alternative minimum tax.