The investment seeks to provide Oregon investors with as high a level of dividend income exempt from regular federal income tax and Oregon state personal income taxes as is consistent with prudent investment management and the preservation of capital.
The fund normally invests at least 80% of its assets in "Oregon municipal securities." It focuses on investment grade bonds, but may invest up to 20% of its assets in investment grade bonds. The fund may also engage in a variety of transactions using derivatives in order to change the investment characteristics of its portfolio and for other purposes. It is non-diversified.