The investment seeks to generate high current income exempt from regular federal income tax while preserving capital.
Under normal circumstances, the fund invests at least 80% of its assets in municipal securities and in participation or other interests in municipal securities issued by banks, insurance companies or other financial institutions. It focuses on investment grade bonds, but may invest up to 20% of its assets in below investment grade bonds (commonly known as "junk bonds"). The fund may, from time to time, invest over 25% of its assets in municipal securities from one state or region.
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=Muni National Short
 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