The investment seeks to maximize current income exempt from regular federal income tax.
Under normal circumstances, the fund invests at least 80% of its assets in "municipal securities." It will invest primarily in municipal securities rated at the time of purchase in the lowest investment grade categories (that is, securities rated in the Baa/BBB categories) or rated below investment grade (that is, securities rated below the Baa/BBB categories) or, if unrated, determined by the subadviser to be of comparable credit quality.
Links:  http://www.globalfunddata.com/funds/new/performance/management?variant=Legg Mason
 http://www.globalfunddata.com/funds/new/performance/domicile?variant=United States
 http://www.globalfunddata.com/funds/new/performance/fund_administrator?variant=Legg Mason Partners Fund Advisor, LLC
 http://www.globalfunddata.com/funds/new/performance/strategy?variant=High Yield Muni
 http://www.globalfunddata.com/funds/new/performance/structure?variant=Open Ended Investment Company
 http://www.globalfunddata.com/funds/new/performance/city?variant=Baltimore___United States
 http://www.globalfunddata.com/funds/new/performance/country?variant=United States
 http://www.globalfunddata.com/funds/new/performance/custodian?variant=State Street Bank & Trust Co
 mailto:email@example.com?subject=Mail from GFM Ltd