The investment seeks to provide Massachusetts investors with as high a level of current income exempt from federal income tax and Massachusetts personal income taxes as is consistent with the preservation of principal.
The fund normally invests at least 80% of its assets in investment grade "Massachusetts municipal securities" or other investments with similar economic characteristics. It may invest in securities of any maturity. The fund focuses primarily on intermediate-term and long-term municipal securities, and will normally invest in securities. It is non-diversified.