The investment seeks to provide shareholders with income exempt from Federal income taxes.
The fund normally invests at least 80% of assets in municipal securities and related tax-exempt derivative securities, the income on which is not subject to Federal income tax, including the Federal alternative minimum tax. It invests primarily in bonds, both general obligation and revenue bonds. The fund may invest up to 20% of its assets in lower-rated securities ("junk bonds") with a minimum rating of B in the opinion of fund management.
Funds Disclaimer
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Ratings Disclaimer
© 2010 - 2011 Morningstar UK Limited. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
