The investment seeks current income exempt from federal and South Carolina income taxes consistent with preservation of capital.
The fund normally invests at least 80% of its net assets in investments the income from which is exempt from federal income tax, alternative minimum tax, and South Carolina personal income tax. It invests primarily in municipal securities of the State of South Carolina and its political subdivisions that provide income exempt from both federal personal income tax and South Carolina personal income tax. The fund's dollar-weighted average maturity is expected to be more than 3 years but less than 10 years. It is non-diversified.