Description

This fund endeavors to provide investors with a high level of current income that is exempt from federal, New York State, and New York City personal income taxes. Its primary strategy involves dedicating at least 80% of its assets to investment-grade municipal securities, whose interest payments similarly avoid these same tax burdens. The portfolio strategically diversifies holdings across various market sectors and maturity periods. It's important to note that the fund may allocate over 25% of its total assets to municipal securities financing comparable projects, and it is characterized as a non-diversified investment vehicle.