LOS ANGELES CNTY CALIF PUB WKS FING AUTH LEASE REV 5%, 2.0%
LOUISVILLE & JEFFERSON CNTY KY MET SWR DIST SWR & DRAIN SYS REV 4%, 1.48%
PORT AUTH N Y & N J 5%, 1.38%
CALIFORNIA ST 5.25%, 1.19%
INDIANA ST FIN AUTH WASTEWATER UTIL REV 4%, 1.16%
Description
Under normal market conditions, the fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in municipal fixed income securities with interest payments exempt from federal income tax. The fund will invest primarily in investment grade securities as rated by an independent rating agency or determined by the advisor to be of comparable credit quality if a rating is unavailable.