Description

The main goal of this investment is to generate a substantial amount of current income from interest that is not taxed for standard federal income tax purposes. This objective is pursued conscientiously, balancing the desire for high income with careful investment stewardship and the protection of the principal invested. Typically, at least 80% of the fund's holdings are allocated to municipal debt instruments and comparable financial products. The income derived from these investments is usually exempt from ordinary federal income tax, although it's worth noting that it could be subject to the federal alternative minimum tax (AMT). The portfolio primarily consists of municipal bonds with a blend of medium-term and long-term maturities, specifically those that have between one year and over thirty years remaining until their maturity date at the time they are acquired.