CWAAX First Trust Managed Municipal A Forecast, Technical & Fundamental Analysis

The investment seeks to generate current income that is exempt from federal income taxes and its secondary objective is long term capital appreciation. The fund invests at least 65% of its net assets in investment grade securities, which are securities that are rated at the time of investment in one of the four highest credit quality categories by at least one nationally recognized statistical rating organization rating that security or, if unrated, determined by the fund’s investment advisor to be of comparable quality. It is non-diversified.