The fund focuses primarily on non-investment grade and unrated municipal bonds, as well as special situations municipal securities.* The investment team targets municipal bond market inefficiencies to capitalize on opportunities, seeking to provide investors with a high level of tax-exempt income and the potential for capital appreciation.
* Special situations include distressed and defaulted securities.
Important fund notice
Effective 10 April 2023, Daniel J. Close and Stephen J. Candido were named as portfolio managers of the Fund. Steven M. Hlavin continues to serve as portfolio manager of the Fund.
Effective 01 Aug 2022, the Class A share class was renamed to Class A1.