Description

This fund dedicates a minimum of 80% of its total net assets, inclusive of any capital acquired through borrowing for investment, to municipal bonds. These bonds are selected for their exemption from federal income tax and specific state taxes, as outlined in the fund's investment goals. Furthermore, at least 75% of the net assets are typically allocated to municipal debt securities that, at the time of acquisition, possess an investment-grade rating, or, if unrated, are assessed by the investment adviser to be of comparable quality.