The investment seeks to provide income exempt from both regular federal income tax and New York State and New York City personal income tax.
The fund invests at least 80% of assets in short-term high-quality “New York municipal securities.” These securities include participation or other interests in New York municipal securities and other structured securities such as variable rate demand obligations, tender option bonds, partnership interests and swap-based securities, many of which may be issued or backed by U.S. or non-U.S. banks. It is non-diversified.
Links:  http://www.globalfunddata.com/funds/new/performance/management?variant=Legg Mason/Western
 http://www.globalfunddata.com/funds/new/performance/domicile?variant=United States
 http://www.globalfunddata.com/funds/new/performance/strategy?variant=Money Market- Tax-Free
 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
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