The fund's primary objective is current income exempt from regular federal income taxes and its secondary objective is to enhance portfolio value and total return.
The fund invests primarily (at least 80% of its net assets) in a diversified portfolio of investment quality tax-exempt municipal obligations rated within the four highest categories (Baa/BBB or better), or unrated but considered to be of comparable quality. The fund may invest up to 20% of its net assets in bonds rated below investment quality or judged to be of comparable quality, of which up to 10% of its net assets may be rated below B-/B3 or of comparable quality. The fund will not utilize leverage by issuing senior securities. The fund will not invest in municipal securities paying interest subject to the Alternative Minimum Tax (AMT). The fund may invest in certain derivative investments in pursuit of its investment objectives.
Seeks to provide
- Attractive monthly tax-free income exempt from federal income tax, including AMT
- Attractive after tax total returns from a predominantly investment grade portfolio
- Portfolio diversification
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.
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