Description

The fund predominantly invests in municipal bonds and debentures, with at least 80% of its net assets dedicated to these securities. A core advantage of these holdings is that the income they produce is free from federal income tax. It builds a widely diversified collection of federally tax-exempt municipal debt instruments, originating from various public authorities throughout the U.S. and its territories. The portfolio has the flexibility to include a broad spectrum of municipal obligations, such as pre-refunded bonds, general obligation bonds, revenue bonds, and municipal lease participations.