The investment seeks current income exempt from both federal and Georgia state income taxes, consistent with preservation of capital.
The fund normally invests at least 80% of its total assets in municipal securities that generate income that, in the opinion of counsel to the issuer of the security, is exempt from federal and Georgia state income taxes. It may invest in municipal obligations whose interest is a tax-preference item for purposes of the federal alternative minimum tax. The sub-adviser will purchase investment-grade municipal securities in an attempt to maintain an average weighted portfolio maturity of 5 to 15 years. The fund is non-diversified.